California Spent $3.5 Billion on Unemployment Benefits Last Week
California paid $3.5 billion in unemployment benefits last week alone, surpassing the highest one-week total of unemployment benefits paid during the Great Recession. The Employment Development Department said on Thursday.
Why it matters:
California's unemployment rate was 16.3% in May and far above the Great Recession's peak of 12.3% a decade ago. The EDD has processed more than 6.7 million unemployment claims and paid a total of $33.5 billion in benefits in both the state's regular Unemployment Insurance program and the federal Pandemic Unemployment Assistance, and Pandemic Emergency.