California job cuts will hurt Gavin Newsom’s White House run
California Governor Gavin Newsom loves to describe his state as “an economic powerhouse”. Yet he’s far more reluctant to acknowledge its dramatically worsening employment picture.
California Governor Gavin Newsom loves to describe his state as “an economic powerhouse”. Yet he’s far more reluctant to acknowledge its dramatically worsening employment picture. According to new outplacement figures, Golden State employers announced over 170,000 job cuts this year, up 14% from last year. More than 75,000 of these cuts were made in the all-important tech sector.
No other state outside Washington DC has been cutting so many jobs, and California now suffers from America’s highest unemployment rate at 5.5%. But this is nothing new. The state has been haemorrhaging jobs in fields such as manufacturing, construction and business services since Joe Biden’s presidency.
Politics
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