California's unemployment rate close to 5%, second highest in US (Montclair: employment, wages)

[sav858]

Originally Posted by tstieber

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.

The point was it’s significantly higher than the national average.

[2sleepy]

Originally Posted by sav858

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

But there are Pizza stores that continue to hire their own drivers i.e Totinos, Dominos, Pizza Hut, California Pizza Kitchen.

[2sleepy]

Originally Posted by NORTY FLATZ

1100 more from Pizza Hut. (This is just the tip of the iceberg.)

Wait until there's blood in the streets.

I figure the first to lose their homes, are going to be the "ARM" crowd....

The loss of Pizza Hut delivery drivers will not likely result in "blood in the streets"

[sav858]

Originally Posted by 2sleepy

But there are Pizza stores that continue to hire their own drivers i.e Totinos, Dominos, Pizza Hut, California Pizza Kitchen.

You think Dominos is any better than Pizza Hut? Most big national chains are pretty terrible and not that much different. It's barely been a week since their announcement, as I already said I wouldn't be surprised if you see more of these types of layoffs especially if people pull back due to higher prices. The article was about Pizza Hut btw and if it was really about their pizza quality they'd be closing restaurants.

Totinos is frozen pizza, I've never seen or heard of a restaurant.

[2sleepy]

Originally Posted by sav858

You think Dominos is any better than Pizza Hut? Most big national chains are pretty terrible and not that much different. It's barely been a week since their announcement, as I already said I wouldn't be surprised if you see more of these types of layoffs especially if people pull back due to higher prices. The article was about Pizza Hut btw and if it was really about their pizza quality they'd be closing restaurants.

Totinos is frozen pizza, I've never seen or heard of a restaurant.

My bad it's Tottinos, a chain in Southern California. Yes, personally I think that Pizza Hut sucks more than Domino's. However, I avoid eating either.

[NORTY FLATZ]

Originally Posted by tstieber

I'm very curious what contributes the most to our higher unemployment rate, though,

Regulation
Regulation
Regulation

[tstieber]

Originally Posted by NORTY FLATZ

Regulation
Regulation
Regulation

I think to understand it better, we would probably need to do a deep dive into which industry is are the most affected by what regulations, and which industries make up the economic mix between states with higher and lower unemployment rates. We could also argue taxes taxes taxes, but it's all very hard to say because there have been so many other factors that have affected different industries since the pandemic. I'm sure it's a very complex answer in reality, even though we like to simplify things

[NORTY FLATZ]

Originally Posted by tstieber

I think to understand it better, we would probably need to do a deep dive into which industry is are the most affected by what regulations, and which industries make up the economic mix between states with higher and lower unemployment rates. We could also argue taxes taxes taxes, but it's all very hard to say because there have been so many other factors that have affected different industries since the pandemic. I'm sure it's a very complex answer in reality, even though we like to simplify things

Oh, that could make for the "Thread from Hell!"

I tried to keep it simple, on purpose.

I can tell you this, the most regulated industry is the nuclear power generation industry.

In a close, 2nd place, we have the petroleum industry. (This one, I'm a bit familiar with.)

Can't speak to the rest of them.

[TheseGoTo11]

LA has the highest unemployment rate of any top 30 metro in the country. This is a serious issue with the state also having one of the worst per capita budget deficits in the country. Combined with lower capital gains receipts, total personal income tax receipts have been falling.


https://www.bls.gov/web/metro/laummtrk.htm
https://calmatters.org/economy/2023/...-deficit-2023/

[Joel1987]

This is too bad.