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The state’s unemployment agency potentially overpaid an estimated $55 billion in recent years to people who may not have been eligible for jobless benefits, a California state audit has found.
Unemployment rates historically are lower for those groups with higher levels of education. For example, in May 2016 the unemployment rate for workers over 25 years of age was 2.5% for college graduates, 5.1% for those with a high school diploma, and 7.1% for those without a high school diploma.
Beveridge curve of vacancy rate and unemployment rate data from the United States Bureau of Labor Statistics. A Beveridge curve, or UV curve, is a graphical representation of the relationship between unemployment and the job vacancy rate, the number of unfilled jobs expressed as a proportion of the labour force. It typically has vacancies on ...
The United States Bureau of Labor Statistics (BLS), which reports current long-term unemployment rate at 1.9 percent, defines this as unemployment lasting 27 weeks or longer. Long-term unemployment is a component of structural unemployment , which results in long-term unemployment existing in every social group, industry, occupation, and all ...
The unemployment rate increased to 4.2%. Hurricanes and a strike by Boeing workers weighed heavily on the October report, which was revised to show there were 36,000 jobs created last month. The ...
The state Employment Development Department is still trying to get the trust fund back in shape after its payments exploded during the 2020-2021 COVID-19 pandemic.
Long-term unemployment rose to a record high [12] while labor force participation fell off sharply as many of the unemployed gave up looking for work. [13] In an effort to spur economic growth, the Federal Reserve engaged in three rounds of quantitative easing, while the federal funds rate was kept near zero for an unprecedented seven years. [14]
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.