California state experiences a payroll contraction during the first eight months of 2025, marking the largest job decline since COVID. The state’s 5% unemployment rate is above the national average and has remained so for the past 19 consecutive months. Over 173,000 jobs disappeared from California from January to November 2025, a 14% annual increase, with the tech sector alone shedding 75,262 jobs.
Fannie Mae is fleeing San Francisco to Birmingham in 2026 as it has become impossible to conduct business in California. Numerous major companies have announced relocations from California in the upcoming year. The Walt Disney Company will…
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