From a quick glance at the headline numbers, California’s economy looks to be in its strongest shape in years. Over the last four years, California has added jobs at a rate faster than all but six other states, and faster than the U.S. overall.
The state unemployment rate is at 5.9%, the lowest since November 2007, and significantly below the 25-year average of 7.5%. California has added jobs at a faster rate than the rest of the country in recent years.
But that swift economic growth hasn’t improved the fortunes of California’s poorest. The state’s official poverty rate (based on a federal threshold of $24,230 for a family of four) is at 16.4%, according to the most recent census data from 2014, up from 12.4% in 2007.
That puts California in about the top third of all states across the country.
Click here to read the article on The LA Times.