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Several such measures are calculated, including the Census Bureau's Supplemental Poverty Measure (SPM) and the Public Policy Institute of California's California Poverty Measure (CPM). The current CPM poverty rate is 20%, but if welfare benefits were excluded from the estimates of families' resources that would rise to 28%.
[8] [9] It is retroactively calculated to evaluate performance from past recessions. The recession rule is defined as: Sahm Recession Indicator signals the start of a recession when the three-month moving average of the national unemployment rate (U3) rises by 0.50 percentage points or more relative to its low during the previous 12 months. [10]
Official economic data shows that a substantial number of nations were in recession as of early 2009. The US entered a recession at the end of 2007, [185] and 2008 saw many other nations follow suit. The US recession of 2007 ended in June 2009 [186] as the nation entered the current economic recovery.
Several Covid-19 pandemic-era benefits have recently expired, leaving millions of people without the economic assistance they’ve come to rely on.. Congress passed a number of sweeping spending ...
And California workers claim unemployment benefits in disproportionately high numbers. The state currently accounts for about 20% of the nation’s jobless claims, far in excess of its 11% share ...
With a potential recession looming, California faces an estimated $25-billion deficit. Lower spending on transportation, housing and education could help close the gap.
The minimum benefit is $50 per week, and the maximum benefit is updated each year. The "base period" for determining benefits is defined as 12 months divided into four consecutive quarters, excluding the quarter immediately prior - i.e., the lookback period is ~17 months pre-disability up to ~5 months pre-disability.
“California employers have been hearing about an economic downturn, and in response have been freezing hiring, withdrawing job offers and even undertaking layoffs, in some cases.