California is reporting a more than 20% unemployment rate, Gov. Gavin Newsom said Friday.
“Do the math. We’re not at 14.7%. The State of California is north of 20% right now," he said.
Newsom said unemployment numbers are lagging and warned, “Let me reassure you, those numbers underestimate the rate in this country.”
Paying for unemployment: The governor said he will present a balanced budget next week, as is constitutionally required. Newsom is projecting tens of billions of revenue shortfall, when that revised budget is released on May 14.
Once again, Newsom cried out for the help of the federal government.
“We cannot do justice to the 40 million Americans – Republicans and Democrats – in this state that need us now more than ever without the support of the federal government, period," he said.
On Monday, Newsom said the state will need to borrow funds from the federal government to pay unemployment claims.