The California job market is turning into a real roller coaster.
First, the state lost 32,000 jobs in January. Then, it gained 62,100 jobs in February. And now, we learn California added 11,800 jobs in March.
“We’re zigzagging,” says Chapman University economist Esmael Adibi. “We’re not getting consistently strong job creation month after month.”
Adibi says an inconsistent national growth rate is causing employers to hold off on potential new hires. Unlike last year’s political uncertainty, Adibi this year blames economic uncertainty. For example, he says, the Federal Reserve could end its economic stimulus measures.
“I believe the picture is going to brighten little bit. But still, we need to go way over these numbers to bring unemployment rate to the respectable level,” Adibi says.
California’s unemployment rate in March held steady at 8.1 percent. That’s well above the nationwide rate of 6.7 percent.
The four-county Sacramento region (Sacramento, Yolo, Placer and El Dorado counties) added 9,300 jobs in March. The region's unemployment rate stands at 8.1 percent - down from 9.1 percent a year ago. Local jobs and unemployment data are not seasonally adjusted, and cannot be compared directly to statewide figures.