California jobs mystery: Jobless claims dip as layoffs surge

So, is California’s unemployment market slogging along or flopping into a quagmire of job cuts?

My trusty spreadsheet compared two federal government’s job counts: Unemployment insurance claims – a snapshot of who’s newly out of work and eligible for those benefits – vs. layoffs and discharges – a tally of the speed at which bosses are trimming staff.

Unfortunately, this employment data only amplifies the economic mystery, both statewide and nationally. And these kinds of mixed messages help depress consumer confidence.