Job Recession in California

Chris dives into California’s jobs recession—zero private sector growth, all gains in government. Blue states face losing House seats as Texas booms. Blame minimum wage hikes ($16.50, $20 fast food) and the Private Attorney General Act. Even Rob Lowe’s game show films in Ireland! www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski got yourself.

Speaker 2 (00:16):
A jobs recession in California, and Democrats are waking up
to the fact that demographics not looking too good. Many
Blue states in the next census are looking to lose ample,
ample house seats. It's a killer for them. Not to mention,
you're going to be talking about the electoral college. But anyway,

(00:39):
you take a look at California, and California lost jobs
in every industry every Biden was in office, For crying
out loud, they gained a net twenty two four hundred
jobs from January twenty four to January twenty five, but

(01:01):
they were all in government. All of its net new
jobs were in government, a little bit in healthcare, social assistance,
a little bit higher education. Compare that to Texas. You
can't Texas absolutely blowing California's doors off. We talked about

(01:27):
some of the issues that California has in regards to
their minimum wage laws and the fact that many businesses
are just choosing to relocate or just not even open
up shop sixteen dollars and fifty cents an hour minimum
wage twenty dollars for fast food restaurants. The state's Private

(01:47):
Attorney General actlet's trial lawyers basically extort small businesses by
filing dubious lawsuits for alleged labor violations. That's what a
lot of small business like to have. They have they
like to have attorney's labor, attorneys on retainer. That's that's
an expense that they like to have. Not and again,

(02:08):
most of the businesses pay the settlements in these cases
because they can't they can't afford the attorney's fees. And
again the lawyers know this. Again, can't blame this on Trump,
Biden was in office. I don't know what you're gonna
blame it on. It was interesting as well. I was
soon an interview Rob Lowe's got a podcast, and who's

(02:30):
he talked to. I don't know the name of the actor.
He was also with Rob low He was on Parks
and Recreation and he's in that popular show. Oh geez,
it's on Apple right now. I never really got into it.
But anyway, neither here nor there, Rob Low is explaining,
because you know, Robos always seems like he's in something,

(02:52):
always doing something. I guess he's got a game show
that he hosts. It's called The Floor. Again, I don't
really watch game shows. This game show that rob Loo
does is filmed in Ireland. What yeah, with American it's
not an Irish game show. Yeah, the game show is

(03:14):
filmed in Ireland. It is cheaper to put people up,
fly them across the pond, have the game show in
Ireland rather than have it in California. And they were
both talking saying, you know the various different lots and
stages in California, empty, empty, and they talked about it.

(03:39):
They said, if we were filming parks and recreation today,
it would be done in Budapest. Got some issues out there, kids,
that's for sure. Watchdog on Wall Street dot com