The latest data on new weekly claims for unemployment insurance in California indicate that the state is back to its pre-pandemic level of around 40,000. There had been a few previous weeks of upward creep, but we seem to be back in a good place for now.
This coming Friday, the May Revise state budget for 2022-23 will be released by the governor so, at least on this measure of economic health, the background will not be bad future economic projections.
As always, the latest new claims data are at https://www.dol.gov/ui/data.pdf.
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