Our weekly look at new California weekly claims for unemployment benefits continues to exhibit no sign of a recession. Claims remain at pre-pandemic (boom) levels. The well-publicized tech layoffs haven't shown up in the data, suggesting that those employees displaced are finding alternative jobs. Vacancy rates are coming down, but apparently what that means is that employers are "laying off" slots they haven't filled instead of real people.
As always, the latest claims data are at https://www.dol.gov/ui/data.pdf.
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