California's Unemployment and Layoff Rate on the Rise

Although job growth is positive in California, Layoffs and unemployment are still an issue. In August, California produced 20,000 new jobs, which is way less than the 60,000 jobs it averaged year to date. In July the unemployment rate was 3.9 percent. That rate slightly grew to 4.1% in August which is still low based on the history of California employment. The slow down in job growth was expected and has already recovered nearly 97% of the 2.7 Million jobs lost during the pandemic. Layoffs in Banking, and finance technology are picking up. Full Story down below Via KTVU