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California Businesses Stop Hiring
Between January 2022 and June 2024, employment in US private businesses increased by about 7.32 million jobs. Of these 7.32 million jobs, about 5,400 were jobs created in California businesses—representing about .07 percent of the US figure.
California’s private-sector job collapse is unprecedented, and with the state representing nearly 12 percent of the country’s population, it is a drag on the nation’s economy. Well-known departures in recent years include the headquarters of Tesla, Oracle, Hewlett Packard Enterprises, Charles Schwab, and Chevron, which last week announced it is relocating to Texas. Policies have driven business and housing costs so high that companies and people are leaving the state for more affordable, less regulated, and less taxed locations.
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