A Rising Tide Doesn't Life All Boats In California

RCM ^ | 01/15/2015 | Carson Bruno

[SeekAndFind]

As President John F Kennedy once quipped, the rising tide lifts all boats; but one only needs to compare San Francisco and Stockton - cities just 80 miles apart - to question whether the rising tide lifts all boats equally. California has recovered all of the jobs the state lost during the recent recession. But that doesn't necessarily mean the state's job market is uniformly doing well.

California's tale of two states isn't new or surprising, but it is one that has been conspicuously absent from the Sacramento agenda. Yet, in the event there wasn't enough evidence already, the January 2015 Hoover Institution Golden State Poll adds further weight. Since September 2013, the Hoover Institution Golden State Poll has asked the same economic confidence questions; one of which asks employed Californian adults, "if you left your current job, how confident are you that you could find a new job in California in the next six months that pays as much as your making now."

Up until the recent poll, more employed Californians have said they are not confident than confident in being able to find an equivalent job, but the margin has been narrowing. In September 2013 the margin was 15 points, falling to 5 points, 4 points, and then 3 points in the January 2014, May 2014, and October 2014 polls, respectively. The January 2015 poll, for the first time, finds employed Californians are more confident (49%) than not confident (45%). Thus, the tide is rising, but digging deeper into this question provides further proof that it isn't an even lift.

Family Income: The Golden State Poll breaks down respondents by family income. Those in the middle income range - between $40,000 and $100,000 - are evenly split on confidence (47% confident, 47% not confident)

[Paladin2]

A rising tide doesn,t lift holed boats.

[Savage Beast]

...or those anchored by a tight line to the bottom.

[stephenjohnbanker]

Some of the 6 million illegal immigrants in California are out of work?

Just darn..

[cuban leaf]

I’m in IT and constantly getting hits from Monster on my resume. If I want to change jobs I just respond to a couple and next thing you know, I’m working somewhere else, pretty much always for more money. The exception is my move from Seattle to KY. But since the 15 yr mortgage payments on my new home and 32 acres with two streams, a natural well, etc. is slightly less than my monthly PROPERTY TAXES on my 1/5 acre place in Renton, I’m good... :-)

I’ve actually thought about getting some sort of IT school going in Appalachia (eastern part of the state), but have learned that as long as the government is giving everyone free money, there’s no point.

[Blue Collar Christian]

I was not aware that California has recovered all of the jobs the state lost during the recent recession.

In fact, I seriously doubt it.

[A CA Guy]

California hasn't recovered a stich. They raised taxes everywhere and have a 10% sales tax. They just passed a new $1.20 a gallon additional gas tax with their Democrat super majority and are running vast deficits through all their state pensions.
There has been 4 years paid unemployment. A more than doubling of the disability roles and over a third of all welfare here in California.
The businesses have been leaving or unable to start due to high taxes, fees, and over regulation.
The only job growth has been in elite government world through Obamacare and such.

[Eric in the Ozarks]

An old friend from E. KY left his oil refinery job and started a vineyard. He's selling his own wine and doing almost as well as he was in the energy gig.

[JimRed]

California has recovered all of the jobs the state lost during the recent recession.

How many of those jobs are government jobs, which are a drain rather than a benefit?

[cuban leaf]

Wine seems to be in a boom in KY. So’s bourbon, for that matter.

[Eric in the Ozarks]

In my coal selling days, a lot of my tonnage moved via the Big Sandy...

[BrandtMichaels]

Carson Bruno takes the quote out of context when he inserts the word ‘equally’

- typical leftist drivel

[JOAT]

"California has recovered all of the jobs the state lost during the recent recession."

Interesting assertion.

I suppose flipping burgers IS the equivalent to writing code.

[roadcat]

I suppose flipping burgers IS the equivalent to writing code.

There is a lot of difference between Stockton and the SF Bay Area, despite the 80 mile separation. Thousands of higher-paying jobs in the Bay Area, versus low-end jobs in Stockton. That's why people flock to the big cities in search of work. The ones without skills or education get the low-end jobs, which are numerous in the Bay Area, but are hard-pressed to pay the higher living costs. But at least the jobs exist. In Stockton they're hard to find.

[Rudder]

As President John F Kennedy once quipped, the rising tide lifts all boats...

Lawrence Kudlow: "That great phrase was coined by the late Jack Kemp..."

[nascarnation]

In the Era of Baraq, fast food is the new middle class aspiration.

In the Era of Bush, it was termed “McJobs”

[monkeyshine]

You’re kidding right? The government will give them free money to give to your vocational school, and even guarantee their loans.