{"id":2205945,"date":"2024-03-25T18:07:02","date_gmt":"2024-03-25T22:07:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-sees-highest-unemployment-rates-in-the-country\/"},"modified":"2024-03-25T18:10:39","modified_gmt":"2024-03-25T22:10:39","slug":"california-sees-highest-unemployment-rates-in-the-country","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-sees-highest-unemployment-rates-in-the-country\/","title":{"rendered":"California boasts the highest unemployment rates nationwide"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcalifornia-sees-highest-unemployment-rates-in-the-country%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2205945&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>California, with the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/red-states-leading-u-s-economic-growth-commerce-department-report-finds\/\" title=\"Red States Leading U.S. Economic Growth, Commerce Department Report Finds\">highest unemployment rate<\/a> in \u2062the country at 5.3%, lost 2.7 million jobs at the start \u2063of the pandemic but has since added 3 million jobs. Despite\u200c discrepancies in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/alfredo-ortiz-bidens-year-end-whopper-on-the-economy-and-a-new-years-resolution-for-a-pro-small-business-congress\/\" title=\"Alfredo Ortiz: Biden\u2019s Year-End Whopper on the Economy and a New Year\u2019s Resolution for a Pro-Small Business Congress\">job creation data<\/a>, California&#8217;s economy shows a slower job\u200c growth rate, indicating a potential slowdown in the national economy, according to Sung \u2064Won Sohn, a professor. California currently holds the highest unemployment \u2062rate in the\u2062 country at 5.3%. At the onset of the pandemic, the state saw\u200b a loss of 2.7 million jobs, which has been partially offset by the addition of 3 million jobs. Although there are discrepancies in job creation data, this <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-staff-predicts-recession-this-year\/\" title=\"Fed staff predicts recession this year\">slower job growth<\/a> in California\u2063 hints at a\u2064 possible economic slowdown nationwide, as noted by professor Sung Won Sohn.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>California now has the highest unemployment rate in the<a href=\"https:\/\/apnews.com\/article\/california-highest-unemployment-slower-job-growth-b1e4c822b33f29f819dbb024103cc843\" target=\"_blank\" rel=\"noopener\" title> country<\/a>, reaching 5.3%, according to data from the<a href=\"https:\/\/edd.ca.gov\/en\/about_edd\/news_releases_and_announcements\/unemployment-february-2024\/\" target=\"_blank\" rel=\"noopener\" title> Employment Development Department<\/a>.\u00a0<\/p>\n<p>At the beginning of the COVID-19 pandemic, California lost 2.7 million jobs due to stay-at-home orders. Since then, <a href=\"https:\/\/www.washingtonexaminer.com\/opinion\/editorials\/2933634\/california-is-not-all-right\/\" target=\"_blank\" rel=\"noopener\" title>California<\/a> has rebounded by adding 3 million jobs to its market, averaging roughly 66,000 jobs per month.<\/p>\n<p>However, a recent data analysis found a discrepancy between the numbers. While <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/politifact-slams-liberal-justice-sotomayor-for-claiming-100k-kids-in-serious-condition-with-covid\/\" title=\"PolitiFact Slams Liberal Justice Sotomayor For Claiming 100K Kids In \u2018Serious Condition\u2019 With COVID\">federal data showed<\/a> the state created 300,000 jobs between September 2022 and September 2023, the corrected amount revealed that only 50,000 jobs were created during that period.<\/p>\n<p>\u201cI think California\u2019s economy is the leading edge of the national economic slowdown,\u201d said Sung Won Sohn, a professor of finance and economics at Loyola Marymount University.<\/p>\n<p>It can be challenging to measure job growth accurately. The number is based on a monthly survey of workers. Initial numbers showed the state added 9,900 jobs in July 2023, but corrected numbers found the state actually lost 41,400 jobs that same month.<\/p>\n<p>The tech industry\u2019s boom during the pandemic era may also be reaching a turning point, affecting Silicon Valley. After receiving billions of dollars in federal aid and a \u201crunaway stock market,\u201d technology companies may have hired too many too quickly.\u00a0<\/p>\n<p>\u201cThe tech sector, especially major firms, over-hired in the first post-pandemic year, and has been shedding jobs since,\u201d said Michael Bernick, a former director of the California Employment Development Department. \u201cThe (San Francisco) Bay Area is the new epicenter of Artificial Intelligence start-ups. But these start-ups so far are creating a small number of jobs.\u201d<\/p>\n<p>The SAG-AFTRA<a href=\"https:\/\/www.nytimes.com\/2024\/03\/11\/us\/california-economy-unemployment.html\"> strike<\/a>, which lasted nearly five months in 2023, also displaced some of California\u2019s economy. Nearly 25,000 actors and writers lost their jobs during this time.\u00a0<\/p>\n<p>According to Kevin Klowden, an executive director at the Milken Institute, Hollywood will take years to return to where it was before the strike. He said some restaurants and other businesses that relied on actors and writers for business may never reopen.<\/p>\n<p><a href=\"http:\/\/washingtonexaminer.com\/\"><strong>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/strong><\/a><\/p>\n<p>In total, there were 1,027,000 Californians without jobs in February, up 13,100 from January and 165,400 more than in February 2023.<\/p>\n<p>Of the state\u2019s 11 industry sectors, private education and health services saw the most significant increase in job growth, adding 15,400 jobs to the state\u2019s economy. The construction industry saw a loss of 9,600 jobs.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>California leads the nation in unemployment at 5.3%, as per data from the Employment Development Department. During the early pandemic, the state shed 2.7 million jobs due to stay-at-home orders. California has since recovered, adding 3 million jobs back, an average of about 66,000 jobs monthly<\/p>\n","protected":false},"author":2910,"featured_media":2205946,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/03\/ca-unemployment-1024x593.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2205945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/03\/ca-unemployment-1024x593.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2205945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2910"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2205945"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2205945\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2205946"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2205945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2205945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2205945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}