California’s economic woes have deepened as recent data reveals the state now has the highest unemployment rate in the country at 5.3%.
The Employment Development Department’s figures show that the Golden State added a mere 50,000 jobs between September 2022 and September 2023, significantly lower than the initial estimate of 300,000.
The state’s job market has been struggling to recover from the devastating impact of the coronavirus pandemic, during which Governor Gavin Newsom’s strict stay-at-home order led to the loss of 2.7 million jobs.
Although 3 million jobs have been added since then, the economic slowdown continues to take its toll on California’s budget.
The state is grappling with a multibillion-dollar deficit for the second consecutive year, with estimates ranging from $37.9 billion to a staggering $73 billion, according to the Legislative Analyst’s Office.
This is an entire block in San Francisco that is vacant. This is prime real estate just off Union Square. This is the undeniable reality of Gavin Newsom’s horrific policies and Bidenomics. Remember this next Biden tells us how great the economy is. Newsom has destroyed California pic.twitter.com/LBoMgf5Vn6
— Lloyd Chapman (@LloydChapman) March 23, 2024
California Assembly Leader James Gallagher attributed the state’s economic challenges to the Democrats’ policies, stating, “California workers are dealing with the consequences of Newsom’s far-left agenda. If Democrats don’t stop punishing job creators and rewarding criminals, things are only going to get worse.”
In contrast, conservative states like Florida and Texas have maintained unemployment rates below 4% in February.
Texas added nearly 340,000 new jobs, while Florida added more than 235,000 during the same period.
These states have also reported significant budget surpluses, with Texas potentially heading into the next legislative session with an estimated $20 billion surplus and Florida’s current budget including a $14.6 billion surplus.
READ NEXT: California Governor Gets Bad News, His State is Far More Broke than Previously Known
The stark contrast between California’s struggles and the thriving economies of conservative states like Texas and Florida says it all.
