California – Lack Of Business, As Usual
Nearly 8.0% of Californians are currently unemployed compared to the national average of 6.7%. Using an alternative method of looking at poverty, which includes factors such as cost of living and public benefits, the official rate released by the U.S. Census Bureau this past September determined that over a three year period, California has more people living in poverty than any other state in the nation. Nearly one in four California residents is considered to be impoverished.
In addition, the Golden State is one of only two states in the nation where one-fifth of its labor force is underemployed, a situation which occurs when skilled and educated workers are forced to accept employment for which they are overqualified and/or accept fewer hours due to a lack of opportunities within the current job market. California has the second highest rate of underemployment at 17.8%. This state of affairs creates a domino effect that reduces economic opportunity as higher skilled workers edge out those with fewer skills as they compete over entry-level positions.
Understanding the barriers and hurdles that businesses experience while trying to operate within… Read More