Unemployment in California rate is troubling small business owners who are struggling with rising costs and fewer customers despite some job growth in the healthcare sector.
Rising Unemployment in California Rate Threatens Small Businesses Amid Post-Pandemic Challenges
A CBS News article reports that California has the highest unemployment rate in the country causing concern among small business owners. Two years ago, the state added over 50,000 jobs in April, but this past April it added only 5,200. Experts worry that this decline could negatively impact small businesses already dealing with increased costs. Ed Snow, a small business owner in Stockton, mentions that managing expenses and paying employees is becoming increasingly difficult.
Michael Bernick a former EDD director, says the problems come from the end of pandemic support like stimulus money and PPP loans. Now, businesses face higher costs and fewer customers spending money. Snow, who works with property owners sees people making tough choices about their spending and sometimes delaying payments.
READ ALSO: California Senate Bill Proposes $500 Million Annual Tax On Big Tech Giants To Fund Struggling News Industry – Check It Out!
Unemployment in California Rate Hits 5.2% in April: Adding 5,200 Jobs – Can Small Business Owners Survive the Inflation Crisis? (PHOTO: PBS)
Healthcare Job Growth Offers Hope as High Unemployment Unemployment in California and 740,000 Open Positions
Furthermore, there is some good news. The healthcare industry added 11,000 jobs helping keep the job market steady. California still has 740,000 job openings, so the challenge is to match people with the right jobs and help businesses stay competitive reducing unemployment in California.
READ ALSO: $12 Billion Education Funding: California Teachers Association Opposes Newsom’s Budget Plan
