California’s economic recovery slowing down
In summary
California is continuing to recover from the severe recession that COVID-19 sparked in 2020, but the rate of recovery is slowing and there may be a recession on the horizon.
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The good news about California’s economy is that it is still recovering from the very severe recession that hit the state in 2020 as Gov. Gavin Newsom shut down much of the state’s business to battle COVID-19.
The not-so-good news is that the state still hasn’t recovered all of the two-plus million jobs that disappeared when employers closed their doors and its unemployment rate, while continuing to drop, is still the 41st highest among the states. In fact, at 4.2%, it’s slightly higher than…
