California's unemployment rate close to 5%, second highest in US (closing, income)

[mixxalot]

I rarely eat out as it is way too expensive now. Less expensive to cook a good steak at home than to pay more for crap fast food.

[2sleepy]

Originally Posted by sav858

lol, I think you might actually believe that. Their pizza does suck but so does a lot of places that people continue to patronize.

Ok so then you tell me what is the difference between Pizza hut and the places peole continue to patronize? If they are both in California minimum wage would be the same, right? So the only thing I can think of that's left is that Pizza Hut's pizza sucks

[MechAndy]

I dread getting a pizza from a chain location.
They spend the least possible on ingredients/ways of cooking and it shows on their product.
Ever had an artisan pizza?
The difference is like night and day.
I don’t mind paying for a good pizza.
I normally make my own and have pizza party night here.
Usually I make 3-4 completely different pizzas, break out the wine/cheese and have a good evening with friends.
My garlic and clam (I forage my own clams) pizza is usually the hit but the simple Neopolitan is up there.
Pizza is easy and yet most fast food places serve crap pies.

[kyle19125]

Pizza Hut's parent company Yum Brands stock has been trading at an all-time high. This is yet more of a shakedown of the working class by the top 3%, but yeah...blame it on politics.

[tstieber]

Originally Posted by CA4Now

California's unemployment rate is fake news? Isn't the OP just stating a fact?

https://edd.ca.gov/en/about_edd/news...november-2023/

Yes, it is a fact, but the suggestion that 4.9 percent unemployment is 'high unemployment' is fake news to the extent that it is actually considered 'full employment' by economic definitions. We can see just by going to stores and restaurants that our local economies are bustling. Nevertheless, that's higher than the UK, Russia, and Mexico's unemployment rates, and I think we can do better. Basically, it's not terrible news, but we can't rest on our laurels.

[tstieber]

Originally Posted by sav858

It’s 30% higher than the national average. That’s pretty significant.

I don't think the percentage difference is a very meaningful statistic in this context, TBH. If the national unemployment rate were 1 percent, and California's were 2 percent, then ours would be double! Yet the stats would be phenomenal. But if the national average were 6 percent, and California's were 7 percent, then ours would only be 16.6 percent higher, yet the statistics would be terrible. In each case, I think what matters is that one extra person out of every 100 residents would be experiencing unemployment in CA, not what percentage that corresponds to.

I'm very curious what contributes the most to our higher unemployment rate, though, as there are second world countries with lower unemployment.

[gemstone1]

Here is a list of all mass layoff activity in 2022 and 2023. More are expected next year.

[njbiodude]

Originally Posted by gemstone1

Here is a list of all mass layoff activity in 2022 and 2023. More are expected next year.

Isn’t the Federal Reserve supposed to change course though?

Once investors can no longer get reasonable returns on bonds it will be back to tech stock speculation. At the very least Biden knows that’s where a lot of campaign donations come from.

[mixxalot]

Lot of tech sector layoffs this year. I was laid off from private tech and went back to government tech job. Less pay but hopefully better job security and pension in the long run.

[sav858]

Originally Posted by 2sleepy

Ok so then you tell me what is the difference between Pizza hut and the places peole continue to patronize? If they are both in California minimum wage would be the same, right? So the only thing I can think of that's left is that Pizza Hut's pizza sucks

They don’t employ their own delivery drivers…..