Calif. economy is booming, but is still No. 1 in poverty
By Chris Kirkham, Los Angeles Times
From a quick glance at the headline numbers, California’s economy looks to be in its strongest shape in years.
Over the last four years, California has added jobs at a rate faster than all but six other states, and faster than the U.S. overall.
The state unemployment rate is at 5.9 percent, the lowest since November 2007, and significantly below the 25-year average of 7.5 percent.
California has added jobs at a faster rate than the rest of the country in recent years.
But that swift economic growth hasn’t improved the fortunes of California’s poorest. The state’s official poverty rate (based on a federal threshold of $24,230 for a family of four) is at 16.4 percent, according to the most recent census data from 2014, up from 12.4 percent in 2007.