November 20, 2015
California employers added 41,200 net jobs in October, a significant increase from more sluggish growth reported a month earlier, according to data released Friday.
Last month’s job gains are more in line with the state’s average growth of about 38,000 jobs per month over the last year. Friday’s data also showed significant upward revisions to September’s numbers, which initially showed a tepid gain of just 8,200 jobs, sparking concern that the state’s economic expansion could be slowing.
Numbers released Friday showed the state actually posted a gain of 21,100 jobs in September.
Esmael Adibi, an economist at Chapman University, said the month-to-month numbers have fluctuated pretty widely throughout the year. The revisions to September’s numbers, along with the strong numbers this month, are a sign that the state’s pace of job creation remains healthy.
“California is doing much stronger than the U.S.,” he said. “It’s a strong report. It’s very broad-based job creation.”
The state unemployment rate in October fell to 5.8%, down from 5.9% in September and the lowest since October 2007.
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Since the Great Recession sent California’s unemployment above 12% in 2010 — higher than every state except Michigan and Nevada — its economic rebound has been swift. For the last three years, the Golden State has grown jobs at a rate faster than all but five other states.
California added jobs at a rate of 2.9% over the last year, faster than the 2% growth rate for the U.S. overall. The fastest gains over the last year have come in the construction industry, which posted a 7.3% gain since last October as the sector continues to rebound from the loss of nearly 400,000 jobs during the downturn. Professional and business services, which includes high-paying lawyers and accountants and also low-paying temporary jobs, had gains of 5.3% over the year, with the fastest growth coming from higher-end jobs.
California job market for October
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