California Economy Is on Edge After Tech Layoffs and Studio Cutbacks
The states $100 billion surplus has turned into a deficit due to the troubles in major industries.
California has always been the economic leader of the nation. California is trying to avoid being the first state to experience a recession as the fears continue.
California's economy is still a powerhouse, ranking higher than most other countries. However, some of the most powerful sectors, such as tech companies and supply-chain logistics, have been hit by high interest rate, investor skepticism, labor unrest and other turmoil.