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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 ...
During the COVID-19 pandemic, the state's UI system was hit hard with an overwhelming number of unemployment claims, resulting in the state borrowing roughly $20 billion from the federal ...
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.
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 ...
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 expectation that inflation will rise often leads to a rise in inflation. Workers and firms will increase their prices to 'catch up' to inflation. There is excessive monetary growth, when there is too much money in the system chasing too few goods. The 'price' of a good will thus increase. There is a rise in population. [3]
California employers, overall, added on net 6,800 new jobs in August. That was well below the state's monthly average of 17,750 this year and its population-based share of the nationwide August ...
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 ...