California Faces Mounting Economic Headwinds with Rising Joblessness, Deficits, and Outmigration

California faces economic challenges including rising unemployment, growing budget deficits, and population outflows.

The state's unemployment rate has risen to 5.3%, the highest nationwide, due to tech sector layoffs and broader economic weakness.

California faces a budget deficit potentially reaching $73 billion, requiring spending cuts and drawing down of rainy day funds.

The state has seen population decline for 3 straight years due to domestic outmigration and fewer international arrivals.

While California's economy has shown resilience in past downturns, persistent issues like high taxes and housing affordability may hamper growth.