California job market: Is a cold front coming in?

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Evidence is mounting that changes in the California job market may be catching up with years of unfettered success and job growth. It is a very mixed situation.

The latest weekly unemployment claims are still very low nationwide, but California was the largest contributor to the ranks of the unemployed with 174,000, Californians laid off or discharged, well above the previous month.

"Nationwide the quit rate is still below what it was prior to the pandemic, but that's not true here in California," said Bernick."California accounted for nearly all the decrease in quit rates," said Bernick. "We have these shortages of workers in direct care, dirt service and blue collar. At the same time we're seeing layoffs in tech and in other white-collar jobs," he said.Service Employees International Union is backing a bill in the state legislature to raise the hourly pay rate to $25 an hour

However, the opposition seems to be coming from the entity that would have to pay that increase, the state itself.

 

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All the unfettered are packing up and moving out to more tax same states.

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