The rise in California’s unemployment rate from 3.8% to 4.7% is concerning, and it’s an indicator that the overall U.S. unemployment rate may also see an increase in the near future.
Focus on California.
Unemployment in that state was 3.8% and is now up to 4.7%. The US unemployment rate will follow it. pic.twitter.com/8nbJXLqNMf
— Jeff Weniger (@JeffWeniger) October 29, 2023
Job openings is a reliable leading indicator for the unemployment rate
Job openings have collapsed
Indicating that the unemployment rate is likely to increase pic.twitter.com/dH0bsSsCzy
— Bravos Research (@bravosresearch) October 29, 2023