California’s unemployment rate has hit a record low. The California Employment Development Department says the state’s unemployment rate was 3.9% in July.
Long-Term Unemployment Tumbles to Its Pre-Pandemic Level, Helping to ‘Mitigate the Risks of Labor-Market Scarring'
It has taken more than two years for California to get most of those jobs back. July's job growth means the state has recovered 97.3% of those pandemic job losses. “I think the labor force will go up in the future because people need to earn extra income to beat inflation," he said. “We are already seeing so-called gig employment rising because some people are holding two or three jobs. The fear of an oncoming recession, if we are not in one already, will cause people to look for work.”
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