Business
California posted another anemic month of job growth in April, and the state’s unemployment rate remained the highest in the land, at 5.3%.
Jobless claims dropped by 9,000 to 211,000 last week, the Labor Department reported Thursday.
For the second month in a row, California posted the highest unemployment figure in the country. And it was one of only two states with a jobless rate above 5%.
Climate & Environment
As Southern California Edison fights claims that it caused the deadly Eaton fire, the company is lobbying state regulators to have its customers cover more than $7 billion for damages it paid to the victims of two massive wildfires in 2017 and 2018.
U.S. stocks slipped after the Federal Reserve held its main interest rate steady and broke a run of cuts that began in September
The Federal Reserve on Wednesday made another cut in interest rates, but dialed back expectations for lowering rates in the near future.
California officials voted to let Southern California Edison raise electric rates to cover payments it made to victims of the 2017 Thomas wildfire.
After three successive interest rate cuts, the Federal Reserve on Wednesday made no change in its benchmark lending rate amid new economic uncertainties over the outlook for inflation and President Trump’s continued threats of new tariffs and other measures.
California
Mortgage interest rate have been on the rise, pushed higher by strong economic data and the possibility Donald Trump could regain the White House, experts said.
The Employment Development Department is unveiling a newly updated and simplified unemployment benefit application that makes it easier to file.