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California Adds 35,500 Jobs, Unemployment Drops to Record-low 4.4%
California’s strengthening job market exhibited more robust growth than was expected in January. The state added 35,500 jobs and the unemployment rate dipped to a record low of 4.4%, according to Employment Development Dept. data released Wednesday.
The positive numbers for 2017 were even brighter than originally reported – 366,000 jobs were added in 2017, 11,100 more than in 2016. Economists note that’s a remarkable accomplishment given the economy is into its eighth year of recovery.
The strongest hiring numbers were reported in the construction and trade sector, with 11,100 jobs added from December to January. Trade, transportation and utilities employers added 10,800 jobs, while manufacturing, education and health services, and leisure and hospitality also posted increases.
It is uncertain if low unemployment will finally translate into wage growth. Across the country, average hourly earnings, on a seasonally adjusted basis, ticked up 2.9% in January, the most since 2009. In California, December’s average hourly earnings, not adjusted for seasonal variations, increased 3.7% from a year earlier, to $30.45, according to U.S. Labor Department data.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Economy
