California experiences a record high in job resignations, potentially linked to the state's high cost of living and economic pressures.
California witnessed a significant rise in resignations in October, with 352,000 individuals leaving their jobs, the highest monthly number for the year. This surge represents a 78,000 increase from September. While the national quit rate stood at 2.1 percent, California 's rate was 1.9 percent, still indicating a substantial number of departures.
This trend aligns with data from the Census Bureau revealing a large exodus from California, with 239,575 residents moving to other states in 2024, the highest net domestic migration loss in the country. Experts suggest that California's high cost of living, with a median home price double the national average, could be a driving factor behind this trend. Financial literacy instructor Alex Beene notes that employees may be quitting due to economic pressures, limited advancement opportunities, and a desire for higher income
Resignations California Exodus Cost Of Living Economy
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
California Sees Surge in People Moving There, but It's Not All Great NewsFrom 2023 to 2024, the state's population increased by 233,000 people, growing to 39.4 million this past July.
Read more »
Bird Flu Detected in US Wastewater, California Sees SurgeA new map reveals bird flu detections in wastewater across the US, with California as the epicenter. The CDC reports 49 out of 52 nationwide detections in the state, prompting a state of emergency. A severe human case in Louisiana with concerning mutations adds to the alarm.
Read more »
Housing Market Sees Surge in Listings, But Inventory Remains StaleA new report from Redfin reveals a significant increase in active home listings in November, reaching the highest level since 2020. However, a concerning trend emerges as over half of these listings have languished on the market for at least 60 days without a sale. While this signifies a potential boost in supply, the majority of the available inventory appears to be stale, raising concerns about affordability and market dynamics.
Read more »
Housing Market Sees Surge in Listings, But Many Homes Sit Unsold for Extended PeriodsDespite a significant increase in active listings, a large portion of homes remain unsold for extended durations, indicating a potential imbalance in the current housing market.
Read more »
Housing Market Sees Surge in Listings, But Many Homes Remain UnsoldThe housing market is experiencing a rise in inventory, reaching its highest level since 2020. However, a significant portion of these listings have lingered on the market for extended periods, indicating a potential imbalance.
Read more »
Housing Market Sees Surge in Inventory, but Stale Listings Remain a ChallengeThe US housing market is experiencing a boost in inventory, reaching its highest level since 2020. However, a significant portion of these listings are considered 'stale,' languishing on the market for extended periods. High mortgage rates and rising home prices continue to impact the market.
Read more »