Golden State Blues

Dan Walters writes at The Sacramento Bee:

California may be recovering from the worst recession since the Great Depression, and its official unemployment rate has dropped by a third, but by another federal measure of employment distress, the state is second only to Nevada.

The alternative number, known as U-6 in economic statistical circles, includes not only unemployment — the percentage of the labor force that's jobless — but "marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers."

In other words, it represents every worker whose aspirations are being thwarted by economic conditions.

By the U-6 measure, California's employment distress rate is 18.3 percent for the 12 months ending June 30, according to a new report by the Bureau of Labor Statistics. California's rate is second only to Nevada's 19 percent and four percentage points higher than the national rate of 14.3 percent.

California's U-6 rate is also more than twice as high as the state's 9.1 percent rate calculated by the BLS for 2006, the last year before the housing bubble burst, plunging the state into recession.

North Dakota, which is experiencing an oil boom, has the lowest rate of 6.2 percent. Texas, with whom California is often compared, has a U-6 rate of 11.6 percent.

Kathleen Miles writes (Nov 15) at The Huffington Post:

California has both the most ultra-wealthy individuals and the highest poverty rate of any U.S. state, according to recent reports.

"This chasm is growing day by day, year by year," Larry Gerston, professor of political science at San Jose State University, said to The Huffington Post. "Those at the top in California are just as happy as a clam. Their incomes are going up much faster than anyone else's."

In 2013, the Golden-for-some State was home to the most -- 12,560 -- ultra-wealthy individuals, according to a new report by Wealth-X, a think tank focusing on wealthy people. New York had the second most, with 8,945 ultra-wealthy individuals. Wealth-X defines ultra-wealthy as having a net worth of at least $30 million.

California gained even more ultra-wealthy individuals in 2013 than any other state, adding an additional 1,605 residents. Florida gained the second most, an additional 565 more than in 2012.

But California also has the highest poverty rate in the nation, according to an analysis released Wednesday by the U.S. Census Bureau. Nearly one in four Californians -- about 24 percent of the overall population -- lives in poverty. Behind California, the District of Columbia and Nevada have the second and third highest poverty rates, according to the analysis. Across the U.S., about 16 percent of Americans live in poverty.

The census analysis considered income, government benefits, taxes and cost of living. The official poverty threshold for a two-adult-two-child family was $23,283 in 2012.Read moCalifornia has both the most ultra-wealthy individuals and the highest poverty rate of any U.S. state, according to recent reports.

"This chasm is growing day by day, year by year," Larry Gerston, professor of political science at San Jose State University, said to The Huffington Post. "Those at the top in California are just as happy as a clam. Their incomes are going up much faster than anyone else's."

In 2013, the Golden-for-some State was home to the most -- 12,560 -- ultra-wealthy individuals, according to a new report by Wealth-X, a think tank focusing on wealthy people. New York had the second most, with 8,945 ultra-wealthy individuals. Wealth-X defines ultra-wealthy as having a net worth of at least $30 million.

California gained even more ultra-wealthy individuals in 2013 than any other state, adding an additional 1,605 residents. Florida gained the second most, an additional 565 more than in 2012.

But California also has the highest poverty rate in the nation, according to an analysis released Wednesday by the U.S. Census Bureau. Nearly one in four Californians -- about 24 percent of the overall population -- lives in poverty. Behind California, the District of Columbia and Nevada have the second and third highest poverty rates, according to the analysis. Across the U.S., about 16 percent of Americans live in poverty.

The census analysis considered income, government benefits, taxes and cost of living. The official poverty threshold for a two-adult-two-child family was $23,283 in 2012.re here: http://blogs.sacbee.com/capitolalertlatest/2013/11/california-has-nations-second-highest-job-distress-rate.html#storylink=cpy