California Economy Picks Up Strength
California added 52,200 jobs in September, reflecting the strength of the economy and holding the unemployment rate unchanged at 5.1%. The latest data from the state’s Employment Development Department shows a reversal from the previous month when employers cut 7,700 jobs.
Gains were largely attributed to an increase in government jobs, as well as the trade, transportation and utilities sector, which combined to add 27,000 jobs and 13,000 jobs on a seasonally adjusted basis. The construction, finance, and leisure and hospitality sectors also experienced increases.
In recent months, the state has alternated between gains and losses. That vacillation had economists closely watching to see if monthly losses would occur in two consecutive months for the first time since 2010. They were pleasantly surprised to find swelling payrolls.
California’s employment ranks grew by 177,300 net new jobs between January and September 2017, while the same period in 2016 grew by 233,000.
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