Quick update on California (and Texas) unemployment. I include Texas simply because it’s the state most hated and denigrated by smug progressives. A state that is deep in a petroleum recession (54% price drop inside three years), Texas was widely predicted by MSM pundits to be sliding back into the ooze. Then when the deluge hit in August, much of the Lone Star State supposedly washed out to sea. Well, liberals HOPED that such was the case.
So, how did the Texas unemployment rate fare? Let’s check on both states.
The CA unemployment rate (August, 2017) has stopped improving and slipped a bit. We are now the 7th worst state – 5.1% (up a full 3/10th of a percent in one month) – largely due to a declining percentage of people seeking work in CA.
The national unemployment rate is steady at 4.4%. The CA unemployment rate is 18.5% higher than the average of the other 49 states. Texas? 4.2%.
But using the lagging yet arguably more accurate U-6 measure of unemployment (includes involuntary part-time workers), CA is the 4th worst – 10.7% vs. national 9.2%. National U-6 not including CA is 9.0%, making CA’s U-6 18.9% higher than other states. There are a lot more Californians involuntarily employed part-time compared to the other states. Texas? 8.8%.