California hammered as national job cuts jump to a five-year high
NegativeTechnology
- California has experienced a significant rise in job cuts, with employers announcing 173,022 layoffs in the first 11 months of this year, marking a nearly 14% increase from the same period last year, according to Challenger, Gray & Christmas.
- This surge in job losses is alarming for California's economy, as it reflects broader challenges within the labor market and may exacerbate existing financial strains on households and communities across the state.
- The situation is further complicated by California's projected budget shortfall of nearly $18 billion for the upcoming year, which could hinder the state's ability to address the economic fallout from these job cuts and support affected workers.
— via World Pulse Now AI Editorial System
