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In California, for instance, the state unemployment rate hit 5.3% in February, up 0.8% from a year ago and the highest in the nation. New Jersey's unemployment rate hit 4.8% in February, also up 0.8%.
The statewide unemployment rate went up a notch to 5.3% in August (from 5.2% in July), tied with Illinois for the second highest behind Nevada’s 5.5% rate, the U.S. Bureau of Labor Statistics said.
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This is nothing but a steeper version of the short-run Phillips curve above. Inflation rises as unemployment falls, while this connection is stronger. That is, a low unemployment rate (less than U*) will be associated with a higher inflation rate in the long run than in the short run. This occurs because the actual higher-inflation situation ...
Currently California employers pay a federal unemployment insurance tax of 1.2% on the first $7,000 of wages per employee, but that will rise incrementally every year so long as California is in ...
In a surprisingly strong economic report, California employers stepped up hiring in May and the state unemployment rate fell for the first time since 2022.
Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 222,000 for the week ended May 11, the Labor Department said. ... more than offseting a notable rise in ...
California's economy kept humming in September, dropping the unemployment rate to a record low 4% statewide and under 2% in San Francisco and some of its neighboring counties, a level that ...