Just how many Californians need a job? The answer may be larger than you think.
Judging by the official unemployment rate of 12.2%, California has more unemployed workers than the entire population of New Mexico. To provide a job for every unemployed worker, California’s economy would have to generate nearly 2.3 million new jobs.
But a growing number of “underemployed” workers in California’s labor force aren’t included in the conventional unemployment statistic. These workers, who want full-times jobs but have settled for part-time work, now number more than 1.4 million.
Add 2.3 million and 1.4 million and you get 3.7 million. That number, which exceeds the entire population of Oklahoma, represents a startling 20% of California’s labor force. Simply put, one in five California workers wants full-time work, but can’t find it.