We continue to keep an eye on the slow upward creep of new California weekly claims for unemployment insurance - a series we track as an indicator of the state of the labor market and economy. There are, of course, other things to worry about in terms of the direction of the economy - mainly macro things such as inflation. For right now, and for the May revise budget next month, there is however little chance of anything derailing the outlook for rising revenue. But it's always good to recall:
As always, the new claims data are at https://www.dol.gov/ui/data.pdf.
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