SB 227, titled "Unemployment: Excluded Workers Program," requires the EDD to develop a plan to provide cash assistance to people who are “ineligible for unemployment insurance due to their immigration status.”
We discuss how California now has about $55 billion in unemployment benefit liabilities, of which a significant amount was due to EDD fraud during the pandemic, the biggest fraud of its kind in any state.
The unemployment rate has been rising since last year, moving up to 4.3 percent in July 2024 from 3.4 percent in January 2023. Mortgage delinquency rates have followed this trend.
What is the Department of Labor doing to crack down on unemployment fraud, and how does it protect your tax dollars? We speak to Inspector General Anthony D’Esposito on the latest in the war on fraud.
The number of Americans filing for unemployment benefits slightly increased last week, but layoffs across the country remain relatively low, according to new data released by the Department of Labor on Mar. 20.
This rate of unemployment has not been observed since September 2016, except for the period of elevated unemployment during the height of pandemic in 2020 and 2021, the report noted.
For the first time since February, the unemployment rate fell, slipping to 4.1 percent from 4.2 percent.
Economists had expected 115,000 new jobs and an unemployment rate of 4.3 percent, according to FactSet.
February’s modest gains were enough to keep the unemployment rate steady at 6.6 percent as the Canadian population grew at its slowest monthly pace since April 2022.
The unemployment rate rose to 4.1 percent, slightly higher than the consensus forecast of 4 percent.
Health care was the top job creator in February, with payrolls growing by 52,000 workers.
The unemployment rate dipped to 4.1 percent from 4.2 percent and came below the consensus forecast.
Average hourly earnings increased by 3.9 percent year over year, down from 4 percent, and fell short of economists' forecasts.
Victoria, Queensland Have Highest Unemployment Rate
Victoria and Queensland both had an unemployment rate of 4.1 percent during the month, the highest recorded across all states.
This reduction has worsened long-term unemployment, with 60 percent of those on unemployment payments receiving them for over a year, up from 51 percent in 2012.
The unemployment rate rose to 4.3 percent, up from 4.1 percent, and higher than economists' expectations of 4.1 percent. This represents the highest jobless rate since October 2021.
Newly released data from the state’s Employment Development Department revealed an uptick in California’s unemployment rate to 5.3 percent in February, the highest in the country.
Among male workers aged 15 to 24, there was an increased unemployment rate of 2.2 percent, while unemployment saw a 0.6 percent increase for those aged 55 and older.
Most types of work saw gains in employment except for temporary jobs.
One policy expert said California's "mishandling of COVID-era unemployment benefits" has resulted in the state auditor's conclusion in the past three years that the department had insufficient oversight.
International students account for a significant share of those residents which, in turn, could be a significant driver of rising youth unemployment rates, the report said.
According to a research report by the Chinese scholar Zhang Dandan, an associate professor at Peking University, the actual youth unemployment rate in March last year could be as high as 46.5 percent.
Treasurer Says New Unemployment Figures Were Not Unexpected
While Treasurer Jim Chalmers acknowledged the rise in the unemployment rate, he said the government had predicted the change.
“To qualify for unemployment, one must be able and available to work, actively seeking work, and be legally authorized to accept employment in the United States. Unemployment benefits are not a handout for those in our country illegally.”