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California Labor Market Expansion Continues Amid Omicron
California’s labor market continued to expand at a steady pace in December, with total nonfarm employment in the state growing by 50,700 positions, according to Beacon Economics. The state’s growth accounted for slightly more than one-quarter of the nation’s overall job gains.
California’s job growth from November was also revised up to 52,200 in the latest numbers, a 6,500 increase from the preliminary estimate of 45,700. Still, the state has only recovered 72 percent of all the jobs it lost in March and April 2020.
“Many states have fully recovered the jobs they lost during the pandemic,” said Taner Osman, research manager at Beacon Economics and the UCR Center for Forecasting. “Since California is still playing catch-up, we expect to see stronger job growth in 2022 compared to the nation overall.”
California’s unemployment also rate fell to 6.5 percent in December, despite the state’s workforce expanding by 30,200.
- ◦People
- ◦Economy
