04/13/2024

California’s Economic Challenge In A Nutshell

Coincidentally, three otherwise unrelated events last week framed California’s somewhat clouded economic situation.

One was a revelation that the state now is tied with Rhode Island for the nation’s highest unemployment rate, 9.8 percent.

Although employment surged in California last year, with about a quarter-million new jobs, and the jobless rate had dropped by more than two percentage points from its high-water mark, more than 1.8 million workers are still without jobs. And outside the immediate Bay Area the picture is especially grim, with jobless rates hitting nearly 30 percent in some rural counties.

Read more here: http://www.sacbee.com/2013/03/24/5288075/dan-walters-californias-economic.html#storylink=cpy

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