California unemployment inches upward in October–25% Higher Than National Average

Forget the headlines, this is what you need to know:

“A sample week from October showed that 356,668 people certified for unemployment insurance. September’s sample week showed 368,452 people who certified. In October 2022, 289,716 people received certification.”

In one year, there are 67,000 MORE people unemployed.  Also the national unemployment average is 3.8%–in California it is 4.8%–25% higher than the national average.  Nationally, we have Bidenomics.  In California we have Newsomnomics.  Both are bad for families and business.

California unemployment inches upward in October

Despite the rise in unemployment claims in October, California has added 3.2 million jobs since post-pandemic expansion began.

ALAN RIQUELMY, Courthousenews,  11/17/23     https://www.courthousenews.com/california-unemployment-inches-upward-in-october/

SACRAMENTO, Calif. (CN) — California saw its unemployment rate creep up to 4.8% in October, a 0.1% rise from the previous month and a 0.7% increase from October 2022, the state’s Employment Development Department stated Friday.

The number of unemployed people in the state rose to 931,300 last month. That’s an increase of 17,700 over September and 132,800 compared to October 2022.

A sample week from October showed that 356,668 people certified for unemployment insurance. September’s sample week showed 368,452 people who certified. In October 2022, 289,716 people received certification.

During the October sample week, the state processed 40,709 initial claims, an increase of 2,846 from September and up 2,523 claims from October 2022.

The three counties with the highest unemployment rates in October remained unchanged from the prior month. Imperial had the highest with 19.3%. Tulare came second with 9.6%. Colusa was third with 8.8%.

The counties with the lowest unemployment changed slightly in October. San Mateo remained the lowest with 3.2% and San Francisco kept the No. 2 spot at 3.4%. San Luis Obispo and Napa tied at third with 3.5%.

Previously, Napa was tied at second and Marin shared third with San Luis Obispo for the lowest unemployment rates.

The number of Californians with jobs continued its downward trend. October saw 18,442,100 people employed, a drop of 28,800 from September’s 18,470,900. This month’s number was a 33,700 drop from October 2022.

The state added 40,200 non-farm jobs in October, bringing the total number of jobs to 18,154,900. Non-farm jobs have grown by 285,200 since October 2022, a 1.6% increase. Nationwide, non-farm job growth was 1.9% over the same 12-month period, for a gain of 2,917,000.

The number of farm jobs dropped by 800 from September to October, bringing the total number of those jobs to 430,500. However, agriculture had 4,800 more jobs last month than it did in October 2022.

Ten of the state’s 11 industry sectors gained jobs last month. Private education and health services had the most with 13,200 added jobs, taking the lead for the second time in two months. That was partly due to better-than-expected gains in outpatient care centers, nursing care facilities and individual and family services.

The trade, transportation and utilities sector saw a gain of 6,900 jobs in October, which is credited to air transportation and couriers and messengers.

The only sector to lose jobs was financial activities. That was because of reductions in credit intermediation and related activities.

Overall, California has gained over 3.2 million jobs since the current economic expansion began in April 2020.

This month’s jobs report was released as the Asia-Pacific Economic Cooperative conference in the Bay Area came to a close. Leaders on the world stage converged in California to discuss topics like trade, the digital economy and climate equity.

Governor Gavin Newsom and President Joe Biden attended, with the latter making headlines for having a side discussion with Chinese President Xi Jinping.

Speaking at a Wednesday press conference, Biden didn’t back down from calling Xi a “dictator.” However, he said that he and his counterpart made significant agreements. China agreed to clamp down on the flow of fentanyl and its precursor components from its shores into America. Also, the pair agreed to immediately pick up the phone whenever the other one called.

Biden noted they spoke about the development of artificial intelligence. While both countries will continue their competition over the new technology, they agreed not to let it lead them into conflict.