Unemployment and “underutilization” rates have been slowly increasing since 2022

Source: BLS; Authors' analysis of Current Population Survey basic monthly data.
NOTES: January-April of each year shown. Unemployment rate is an average of official estimates for California. Underutilization rate (U6) includes unemployed workers, people marginally attached to the labor force, and workers employed part time for economic reasons.
FROM: PPIC Blog, June 2026.
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