Hiring in California ground to a halt in September. The state lost 2,900 jobs – the first month of negative job totals in more than two years. On the brighter side, California added 39,800 jobs in October. And August’s preliminary 29,100 job gain was revised up to 34,000.
“There’s no question that job creation is still anemic,” says Chapman University economist Esmael Adibi, pointing to the slowing of the state’s job growth from a year-over-year rate of two percent earlier this year to a “discouraging” one-and-a-half percent now. “If we did not have the (federal government) shutdown, and the impact of it, probably these numbers would have been better.”
California’s unemployment rate now stands at 8.7 percent – a slight drop from the previous report, but still above the national average of 7.3 percent.
CapRadio provides a trusted source of news because of you. As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.