Gov. Gavin Newsom and his predecessor, Jerry Brown, have repeatedly stressed the need to build state budget reserves to cushion the impact of the next recession, whenever it hits. Thanks to a vibrant economy, they’ve squirreled away nearly $20 billion in various reserve accounts. When recession hits, however, the state...
Fresno-Clovis Keeps Healthy Streak Alive in June Job Data
The unemployment rate in the Fresno-Clovis area rose slightly in June but continued to show historically healthy job numbers, extending a record streak of rates less than 10%. The June unadjusted unemployment rate for Fresno County was 7.1%, higher than the 6.4% posted in May but a few ticks less...
Poll: Many Feeling Vulnerable Despite Economic Gains
WASHINGTON — Americans are generally satisfied with their personal finances, but many lack confidence in their ability to afford retirement, an emergency expense or even their daily living costs. Roughly two-thirds, 67%, describe their financial situation as generally good, up slightly from 62% who said so at the start of...
US Adds 224,000 Jobs, Making Fed Rate Cut Less Certain
WASHINGTON — U.S. employers sharply stepped up their hiring in June, adding a robust 224,000 jobs, an indication of the economy's durability after more than a decade of expansion. The strength of the jobs report the government issued Friday could complicate a decision for the Federal Reserve late this month...
Is Historically Low Unemployment Near in Fresno County?
Could Fresno County soon see its lowest monthly unemployment rate in more than a generation? In data released Friday by California's Employment Development Department, Fresno County had an unadjusted unemployment rate of 6.4% in May. In state records that date back to January 1990, the county's jobless rate dipped that...
Biden Attacks Trump on Trade as Both Come to Iowa
DES MOINES, Iowa — Democrat Joe Biden is assailing President Donald Trump on trade and broadly branding him as "existential threat to America" in a preview of what the country might expect if he prevails in his party's primary contest. The president, also coming to Iowa on Tuesday, was likely...
Advocates Promised These Laws Would ‘Protect’ Teens. They Don’t.
In 2016, fewer than 6% of California adolescents reported trying cigarettes, down from 10% in 2015, 13% in 2009, 15% in 2007, and 19% in 2003. Why on earth did legislators feel the need to intervene in such a hugely positive youth trend? For no apparent reason, they did. In 2016,...
Unemployment Hits 49-Year Low as US Employers Step up Hiring
WASHINGTON — U.S. employers added a robust 263,000 jobs in April, suggesting that businesses have shrugged off earlier concerns that the economy might slow this year and now anticipate strong customer demand. The unemployment rate fell to a five-decade low of 3.6% from 3.8%, though that drop partly reflected an...
Jobs Report: Wages Up, Unemployment Dips to 3.8%
WASHINGTON — Hiring tumbled in February, with U.S. employers adding just 20,000 jobs, the smallest monthly gain in nearly a year and a half. The slowdown in hiring, though, might have been depressed by harsh winter weather and the partial shutdown of the government. Last month's weak gain came after...
AP Fact Check: Trump’s Epic Speech Is Laced With Fabrication
WASHINGTON — President Donald Trump uttered a dizzying number of false statements in his epically long weekend speech, to an audience that didn't seem to mind at all. He got the unemployment rate wrong. He misstated his winning margin in the election. He reprised some of his most frequently told...