United States Congress Joint Economic Committee

California

June 2024

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May Employment Update
Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
California Unemployment (U-3) 4.3% 4.2% 4.7%
U.S. Official Rate (U-3) 3.7% 3.7% 3.4%
U.S. "Real" Rate (U-6) 7.0% 7.1% 6.7%
California Labor Force Participation Rate 62.2% 62.1% 61.8%
U.S. Labor Force Participation Rate 62.5% 62.7% 62.6%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 3.4% 3.1% 6.5%
"Core" CPI Inflation 3.9% 4.0% 5.7%
National Gas/gal. Updated 6/29/24 12:00 AM $3.50 $3.58 $3.55
California Gas/gal. $4.80 $5.10 $4.83
West Region: Loaf of Bread $2.36 $2.25 $2.23
West Region: Milk/gal. $3.97 $3.97 $4.27
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q4/2023 (3rd Estimate)
3.4%
CA Real GDP
Q4/2023
3.1%
S&P 500 (YTD)
0.29% Updated 1/16/24 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
CA Hourly Rate
$14.00
Last Generated: 6/30/24 5:15 AM