California's unemployment rate is the highest in the nation. Slower job growth is to blame

California's unemployment rate is now the highest in the country. The state's unemployment rate was 5.3% in February. That's higher than Nevada's 5.2% rate. The national unemployment rate is 3.9%. The increase comes after new data revealed job growth in California was much slower last year than previously thought. State officials had reported adding about 300,000 jobs between September 2022 and September 2023. An analysis by the federal government earlier this month showed the state actually added 50,000 jobs during that time period. The economic slowdown has been reflected in the state's budget, which is facing another multibillion-dollar deficit.