A new report from the Federal Reserve Bank of San Francisco said that most people who get a new job weren’t seeking it. Instead, recruitment and referrals form the basis of the bulk of new hiring.
California’s unemployment rate fell to 6.7% from 7% a month earlier and 8% in February 2014, according to the state Employment Development Department. The rate is at its lowest level since May of 2008.
The number of people making new jobless claims across the country dropped by 36,000 to 289,000, according to a weekly report from the U.S. Department of Labor. California saw a moderate increase in new claims.
California unemployment fell to 6.9 percent in January as the state’s economy generated 67,300 new payroll jobs, state officials said Friday.
The labor force participation rate hovered between 62.9 percent and 62.7 percent in the eleven months from April 2014 through February, and has been 62.9 percent or lower in 13 of the 17 months since October 2013.
U.S. nonfarm payrolls grew by a seasonally adjusted 295,000 jobs in February, the Labor Department said Friday. The economy has now added more than 200,000 jobs for 12 straight months, the longest such streak since 1995.
More locally, Los Angeles County shed more than 62,000 jobs in January although the state’s unemployment rate edged down to 7.9 percent from 8 percent the previous month and 8.8 percent a year earlier.
The U.S. economy lost more than 2.7 million jobs between the middle of December and the middle of January, but the big news from the January jobs report was that the economy added 275,000 jobs during the same period. . . reporting a statistically adjusted figure as if it were original data is a mistake, and a significant distortion of reality that only adds to public distrust of the government and the media. People know that jobs were scarcer in January than in February, even if the government told them the opposite.
Jobless claims increased by 7,000 to 320,000 in the week ended Feb. 28, the most since May, from 313,000 in the prior period, a Labor Department report showed Thursday in Washington. The median forecast of 52 economists surveyed by Bloomberg expected claims of 295,000.
California has many built-in advantages – including but not limited to its climate, natural resources, diverse population, and university system, but California’s setbacks, such as its high tax regime, its volatile budget, its high cost of living, and its burdensome regulatory environment, are increasingly overshadowing them. When Californians celebrate the overall rising of the tide, they ignore the boats left behind. It is time for Governor Brown and other California leaders to start pushing a growth agenda to ensure JFK’s words hold true.
U.S. nonfarm payrolls grew by a seasonally adjusted 257,000 jobs in January, the Labor Department said Friday. And job creation was far stronger in prior months than previously thought, with the government raising its estimates of new jobs in November and December by a combined 147,000. November’s reading of 423,000 jobs added marked the strongest month of private-sector hiring since 1997.
Simply stating that legislation is pro-job in a legislative floor speech or opening a Governor’s Office of Business and Economic Development isn’t sufficient to creating a pro-growth business environment. If Sacramento seriously wants to foster a robust job market, the state needs strong economic growth, which requires nurturing, consistently and vigorously, a healthy business climate.
We measure the effect of unemployment benefit duration on employment. We exploit the variation induced by the decision of Congress in December 2013 not to reauthorize the unprecedented benefit extensions introduced during the Great Recession. Federal benefit extensions that ranged from 0 to 47 weeks across U.S. states at the beginning of December 2013 were abruptly cut to zero. . . In levels, 1.8 million additional jobs were created in 2014 due to the benefit cut. Almost 1 million of these jobs were filled by workers from out of the labor force who would not have participated in the labor market had benefit extensions been reauthorized.
Although California’s unemployment dropped fractionally to 7 percent in December, the state stands alone with the nation’s second-highest rate, exceeded only by Mississippi’s 7.2 percent.
California’s unemployment rate fell to 7 percent in December, a drop of two percentage points from a month earlier, but the state added few jobs last month.
The California Employment Development Department says the number of payroll jobs increased by just 700 last month, despite the improvement in the overall rate.