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California Loses 224k Jobs Since 2020

By Markets Desk · 2026-09-12 · 1 min read
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Illustration: Tradingbird

California's employed population is 224,000 below pre-pandemic levels, while Texas and Florida have grown significantly.

California had roughly 224,000 fewer employed residents in July 2026 than in February 2020. Over the same period, Texas added approximately 1.66 million employed residents. Florida added 605,000 jobs.

The state's July 2026 unemployment rate stands at 5.1%. Texas reports a rate of 4.5%. Florida reports a rate of 4.6%. These figures highlight a persistent weakness in the California labor market.

Broader metrics show higher labor friction

The Georgia Center for Opportunity tracks a broader measure called U-8. This metric includes unemployed people and those working part-time without full-time options. It also counts additional adults outside the labor force who are not retired or students.

For 2025, the Center places California’s U-8 rate at 16.5%. This ties California with New Mexico for the highest rate among the fifty states. Texas and Florida both report a 13.8% rate. Almost one in six eligible Californians is not working full-time.

Wage mandates vary by city boundaries

California’s statewide minimum wage is $16.90 an hour. West Hollywood requires $20.25 for non-hotel employees. Fast-food restaurants statewide must pay at least $20. Hotel workers in Los Angeles and Santa Monica face a $25 floor. Long Beach sets the floor at $26.50.

These differences depend on city boundaries, hotel room counts, or chain status. An independently owned franchise may face fast-food mandates even with one location. Employer Social Security and Medicare contributions add 7.65% to these costs.

Regulatory costs increase employment expenses

California requires daily overtime after eight hours. This rule applies even if the weekly total is under 40 hours. The state also carries an unresolved unemployment-insurance debt. For tax year 2025, this debt raises federal unemployment taxes by up to $84 per employee.

Assembly Bill 5 restricts the use of independent contractors. The law requires contractors to perform work outside the hiring business’s usual line of business. This makes occasional assignments less practical for small businesses. According to GN markets/jobs (en-US), these factors combine to reduce workforce participation incentives.

Based on reporting by Orange County Register, compiled by the Tradingbird desk.

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