The End of Californian's Economy

in LeoFinance •  last month 

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In September California's unemployment rate was 11% and this compares to a national average of 7.9%, aka California significantly more unemployment. This comes as the bay Area, Los Angeles, and Long Beach are in the top five losers job losers in the entire united states during the pandemic while Salt Lake City, Austin, Dallas, and San Antonio are all doing substantially better.

86% of jobs in California, if you can get a job pay below $66,000 per year which is the country's median that means the middle so, throughout the country, the middle earnings of people is $66,000 well 86% of Californians make less than that, which is almost everyone except well a minor 14%.

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Almost half of Californians make under $40,000 a year, yet they live in a state that's so expensive, that California has the highest cost adjusted poverty rate anywhere in the country, cost adjusted just means they look at how many people are in poverty, considering the fact that basic necessities, like housing food and gas, are more expensive in California compared to anywhere else.

So prices are higher and boom you got the most amount of people in poverty compared to anywhere else in the country and California is supposed to be one of the world's largest economies and they can't even get poverty right. When it comes to high-wage jobs well things aren't going great there either Texas, Utah, Colorado, and Washington are all kicking our butt and taking the Californian's jobs well maybe that's because the industry is moving to those states because those states don't suck some.

People wonder, why is poverty up in LA? why is graffiti up in LA? why is crime up in LA? why are there homeless encampments outside of multi-million dollar properties, where real estate property values are way high and there are still people out on the street who can't even have a roof over their heads despite California having one of the highest tax rates in the country it's right there with New York, it's because California is becoming unlivable, mostly because incomes are low and skills are low and taxation is way high this is why people say California is a welfare state.

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When incomes are low people need support from the government, you have one-third of people in California receiving medical assistance payments from the state through Medi-Cal (one-third of people are on Medi-Cal in California) and again income's low taxation high you can't wonder why people are reliant on California government.

Stay tuned, gathering up more stats for your enjoyment, of Californias Demise.

Posted Using LeoFinance Beta

Posted Using LeoFinance Beta

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Maybe there is something the government can do. Or are there major crisis in the state , stagflation or hyperinflation.
I do not stay in California so I can not directly make a remark. But I'll stay tuned for more of your posts so I can make a conclusion.

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