The Governor announced today that California has grown 1 million jobs since 2010. This is a significant and long awaited accomplishment for those who have suffered economically over the past 6 years.
An analysis of annual changes of four economic performance indicators— economic output (GDP), employment, unemployment rates and home prices—between 2012 and 2013 across the 3,069 county economies . . .
The Los Angeles 2020 Commission, created by the City Council, didn’t mince words in its report, “A Time for Truth,” declaring, “Los Angeles is barely treading water while the rest of the world is moving forward. We risk falling further behind in adapting to the realities of the 21st century and becoming a city in decline.”
American employers added a disappointing 74,000 jobs in December, a tally at odds with recent signs that the economy is gaining traction and moving beyond the supports put in place after the recession.
U.S. payrolls rose by 74,000 last month, the smallest monthly gain in three years, the Labor Department said Friday. The figure marked a sudden pullback from growth of 200,000 or more in the prior two months.
The Labor Department said the unemployment rate fell to 6.7% from 7%, though the decline was largely the result of people leaving the workforce. Economists had expected a gain of 200,000 jobs and a 7.0% jobless rate, according to a Dow Jones Newswires survey.
California reported the largest drop in new claims of 14,635. It attributed the change to fewer layoffs in the service industry.
California reported the largest drop in new jobless claims of 5,429. It attributed the change to fewer layoffs in the agriculture, forestry and fishing industries.
Congress went home for the holidays without approving a federally funded extension of jobless benefits for about 1.3 million Americans who have been out of work six months or longer.
California’s seasonally adjusted unemployment rate was 8.5 percent in November, down 0.2 percentage point in October, and down 1.4 percentage points from 1 year ago. In comparison, the U.S. unemployment rate was 7.0 percent in November, down 0.3 percentage point from October, and down 0.8 percentage point from 1 year ago.
In California there were 14,748,200 jobs in total non-farm industries in November, a gain of 44,300 jobs from last month. This followed a revised 30,100-job gain in October and a 2,900-job loss in September.
Within non-farm industries, 7 sectors saw month-over job gains; 4 sectors saw a month-over job decline.
California’s jobless rate dropped to 8.5 percent in November, the state Employment Development Department said Friday, continuing a positive trend after increasing temporarily over the summer.
California employers added a net 44,300 jobs in November, posting strong job growth toward the end of the year, according to data from the state’s Employment Development Department.
The surge in hiring was largely in retail trade, part of the typical hiring uptick during the busy holiday shopping season. Construction and manufacturing both posted healthy job gains, both for the month and over the last year.
Home resales hit a near one-year low in November and new filings for unemployment benefits unexpectedly rose last week, putting a wrinkle in an otherwise brightening economic picture.
The number of people filing new jobless claims across the country skyrocketed by 68,000 to 368,000, according to a weekly report from the U.S. Department of Labor. California saw numbers go in the opposite direction, with a huge drop in new claims.
Employers added about 200,000 jobs in each of the past two months. Compared with the summer, when a string of disappointing reports led to fears of a cooling labor market, the recent rebound is encouraging, especially given that it happened despite October’s partial government shutdown. But the overall pace of job growth remains too weak to quickly recoup the losses of the deep 2008-2009 recession. Worse, there is little sign that growth is picking up from its good-but-not-great trend: The economy has added 2.3 million jobs over the past year, a pace that has changed little for the past two years.
California’s nonfarm payroll jobs increased by 39,800 in October for a total gain of 868,300 jobs since the recovery began in February 2010, according to data released today by the California Employment Development Department (EDD). California’s unemployment rate was 8.7 percent in September and October, down from 8.9 percent in August.