Some job reports bring a pretty clear headline. This one's a bit muddled. First of all, even though the new national numbers are for February, the state report is for January. And while unemployment dipped to 10.9 percent - down from 11.2 percent in December - California lost 5,200 jobs. That's compared to a nationwide gain in January of 284,000 jobs. Chapman University Economist Esmael Adibi says California has 12 percent of the U-S population - so it should have added 12 percent of the nation's jobs.
Adibi: "We are not catching up with the national job growth - and in fact, we are way, way underperforming the nation as a whole."
But there's even a caveat here: The state revised December's job gain from about 10,000 to nearly 40,000. We'll learn in a couple of weeks if January gets a similar revision.