Team meeting in office.
May 22, 2018

California's Unemployment Rate Falls to Another Record Low in April

Pacific Union Chief Economist Selma Hepp analyzes the latest California employment report.

 

  • California’s unemployment rate fell to a new record low of 4.2 percent in April according to the latest report from the state Employment Development Department, with 39,300 jobs added during the month. California has now gained a total of 2,908,100 jobs since the economic expansion began in February 2010. Over the last year, there were 356,800 jobs added, a 2.1 percent increase. March’s previously reported decline was revised up by 5,400 new jobs. In the first four months of 2018, 98,400 jobs were added in the state, compared with 104,000 jobs created during the same period last year. While California employers added fewer jobs this year, 2018’s increase is still robust considering the historically low unemployment rate.
  • While 815,000 Californians were counted as unemployed in April, this is 13,000 fewer than in March and 139,000 fewer compared with April of last year. All industries except manufacturing added jobs in April, with the construction industry showing the largest increase of 10,000, followed by professional and business services, up by 8,500 jobs.
  • Over the last year, all California industries except those in the category listed as other services added jobs, with the largest gains in educational and health services, up by 83,500 positions. Professional and business services added 65,800 jobs, while the construction sector created 59,500 jobs.

 

To read the full post, click here: https://pacunion.us/2GEJnT