California Job Market Cools in 2023 With Slowing Hiring and More Firings

California's job market has cooled in 2023 based on the HQF index comparing hiring, quits, and firings.

Hiring is down 10% this year but still above pre-pandemic levels. Quits are down 22% but remain high. Firings are up 5%.

The cooling job market could reflect both post-pandemic adjustments and rising workplace tensions between bosses and employees.

Job growth and employment remain high but may be slowing. Unemployment is up slightly.

The cooling job market aligns with the Federal Reserve trying to fix an overheated US economy.