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Unadjusted claims dropped 34,967 to 210,166 last week amid a plunge of 9,777 in filings in California and a tumble of 6,383 in Texas. ... The unemployment rate is forecast to rise to 4.2% from 4.1 ...
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.
It lowered the state’s unemployment rate to 5.2% from 5.3%, which was the highest in the nation. The added jobs accounted for 16.1% of the country’s gains while California has an 11% labor ...
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 ...
"Demand-pull inflation" refers to the effects of falling unemployment rates (rising real gross domestic product) in the Phillips curve model, while the other two factors lead to shifts in the Phillips curve. The built-in inflation originates from either persistent demand-pull or large cost-push (supply-shock) inflation in the past.
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%.
Some 40,000 California workers quit the labor force in March, pulling the unemployment rate down slightly to 8.3% but feeding stubborn joblessness. California is 'clawing back' from pandemic ...
During a recession, output production temporarily falls due to lack of demand, and as a result fewer workers are needed. [9] This was a popular explanation of unemployment during the Great Depression, when many believed unemployment to be "no fault" of the individual workers. [10]