California’s High Unemployment Rate Account for its Great Housing Cost

Zhuoran Chen

doi:10.54097/hbem.v1i.2557

Authors

Zhuoran Chen

DOI:

https://doi.org/10.54097/hbem.v1i.2557

Keywords:

Employment Rate; GDP.

Abstract

According to the classic macro-economics, a region with higher GDP would have a lower unemployment rate. However, the unemployment rate in California, the state often gets the greatest GDP amount in the US, often exceeds the one in Texas. It contradicts the standpoint above. Inspired by an article written by Joe Weisenthal, I suspect it has something to do with the different house prices in California. The following article will explain the relationship between the unemployment rate and the housing price in a region.

Downloads

Download data is not yet available.

References

Statista. 2022. West Texas Intermediate oil price annually 1976-2022 | Statista. [online] Available at: <https://www.statista.com/statistics/266659/west-texas-intermediate-oil-prices/> [Accessed 8 September 2022].

Lao.ca.gov. 2022. California’s High Housing Costs: Causes and Consequences. [online] Available at: < https:// lao.ca.gov/reports/2015/finance/housing-costs/housing-costs.aspx> [Accessed 8 September 2022].

Business Insider. 2022. The Battle of Texas Vs. California All Comes Down to This. [online] Available at: [Accessed 8 September 2022].

Lao.ca.gov. 2022. California’s High Housing Costs: Causes and Consequences. [online] Available at: <https://lao.ca.gov/reports/2015/finance/housing-costs/housing-costs.aspx> [Accessed 8 September 2022].

CalMatters. 2022. California's overcrowded homes fuel spread of coronavirus among workers. [online] Available at: [Accessed 8 September 2022].