June 19, 2018

California’s Unemployment Rate Maintains Record Low in May

Pacific Union Chief Economist Selma Hepp offers her perspective on the latest employment trends in California, the Bay Area, and Los Angeles.

 

  • The Golden State added 5,500 jobs in May and downwardly revised April’s monthly growth to 25,600, according to the latest numbers from the California Employment Development Department. This year’s job numbers have been unusually volatile, mostly due to larger-than-usual changes in industries that are sensitive to seasonal trends. Total state numbers also differ slightly from changes seen at metropolitan area levels, suggesting that statewide numbers may be revised upward.
  • California’s unemployment rate remained at a record-low 4.2 percent in May. Many metropolitan areas showed further declines in unemployment rates, largely driven by the state’s shrinking labor force, which dropped for the third consecutive month and now totals 49,000 persons. It was also the fifth labor-force decrease in the last seven months.

 

To read the full post, click here: https://pacunion.us/2t9ob4q