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Report: California Job Recovery Nears Pre-Pandemic Level
A new joint study from Beacon Economics and the UCR School of Business Center for Economic Forecasting and Development indicates California’s nonfarm employment grew by 84,800 positions in July and is on pace to reach pre-pandemic levels by the end of August. Despite that positive news, the California job recovery lags behind the nation as a whole, due to continued labor shortages.
In the United States, total nonfarm employment has contracted 0.1% since the start of the pandemic, while that number is 0.4% in California. Conversely, the state increased payrolls by 4.4% in July compared to July of 2021, outpacing the 4.2% increase seen at the national level.
“California is getting very close to fully recovering all the jobs it lost due to the pandemic,” said Taner Osman, Research Manager at Beacon Economics and the UCR Center for Economic Forecasting. “If we repeat this month’s job gains next month, we will reach that milestone.”
- ◦Economy
