All employees, California, 3 month change, BEA series

Three month change, after seasonal adjustment.

What we see is this dip recently where California had no job additions.

Is that dip a trend?  Absolutely, this is a cycle, as we can all see looking 20 years back.  California has passed its peak employment for the cycle and is on down trend, obvious.  Do not let some economist tell you, "this time is different".

If we judge by the  increasing dip, then we should expect a much bigger drop during the scheduled recession. Thus using the BEA series, I can say,"This time is much worse".

The pension stress is greater, the number of municipals which have already frozen employment is greater than the last cycle.  We likely will have three cities, like Stockton, declaring bankruptcy, or going through arbitration.

Also, California population stabilized some years ago, we are noo getting new business.

Plus, most California school districts went on a corruption inspired building binge and are now facing much higher interest charges.

Then, adding insult to injury, we have had four or five tax hikes up and down government. Gasoline taxes up three timers, and each time the inflation adjusted payments to unions cause a downward shift in energy efficiency, driving business out.

Now, the one person who  could get the behemoth through is retiring, and we are facing the appointed governor, Gavin  Newsom, undoubtedly a complete disaster and instant bankruptcy.