Professionals - The Mark Company
March 23, 2018

California’s Unemployment Rate Again Falls to Record Low in February

Pacific Union Chief Economist Selma Hepp breaks down the latest California, Bay Area, and Los Angeles job numbers.

 

  • California added 14,000 jobs in February, and the unemployment rate dropped to 4.3 percent — the lowest level recorded since 1976, according to numbers from the state Employment Development Department. Over the last year, the state created 383,600 jobs, a 2.3 percent annual increase.
  • Industries that added the most jobs in February from the month before include professional and business services, up 8,300 jobs; construction, up 6,800 positions; and manufacturing, up 3,500 jobs. The educational and health services sector created 2,800 jobs; leisure and hospitality added 2,000 positions; and financial activities added 100 jobs. Of industries that reported job losses, trade, transportation, and utilities posted the largest decrease over the month, down 3,100 jobs; followed by other services, down 2,800 jobs; government, down 2,500 jobs; information, down 1,000 positions; and mining and logging, down 100 jobs.
  • According to The Conference Board Help Wanted OnLine data series, California’s job supply/demand rate was 1.53 for February 2018, suggesting more than one and a half jobs are available for each unemployed person, also an increase from a January. Seasonally adjusted numbers show an increase of about 30,000 job advertisements from February of last year.

 

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