Web Version [link removed] | Update Preferences [link removed] [link removed] California Jobs Report for

June 2024

The Center for Jobs and the Economy has released our full analysis of the June Employment Report from the California Employment Development Department. For additional information and data about the California economy visit www.centerforjobs.org/ca [[link removed].].

Key Takeaways California's Unemployment Rate Highest in the Nation: At 5.2%, California remains tied with Nevada for the highest unemployment rate in the country, marking the fifth consecutive month at this level. Job Openings Trending Downward: Despite some recent increases, overall job openings in California are trending 10% below pre-pandemic levels, reflecting a slowdown in hiring plans. Total Employment Still Below Pre-Pandemic Levels: Although nonfarm jobs showed improvement in June, total employment is down 93,000 for the year and remains 386,000 short of pre-pandemic peak levels. Restaurant Industry Struggles: California's restaurant industry, particularly in the fast-food sector, has seen significant job slowdowns and losses around the $20 minimum wage increase, contrasting with job growth in the rest of the country. Businesses Leaving California: Most recent CaliFormers include X, SpaceX, and Novartis relocating or expanding out of California, contributing to the number of businesses moving operations to other states. California’s UI Fund Deficit Worsens: The state’s unemployment insurance fund faces severe deficits, with projected payouts significantly exceeding contributions, continuing a trend of financial strain.

Read the Full Report [[link removed]] The California Center for Jobs and the Economy provides an objective and definitive source of information pertaining to job creation and economic trends in California. [[link removed]] Contact 1301 I Street Sacramento, CA 95814 916.553.4093 If you no longer wish to receive these emails, select here to unsubscribe. [link removed]