California Not In Recovery - In Full Expansion
California continues to outpace the nation in job creation. The state added 22,900 jobs in June, accounting for 10.3% of all employment growth in the U.S. Over the past year, nonfarm jobs in California have expanded by 3%, compared to 2.1% growth in the nation overall.
California’s unemployment rate also declined – falling to 6.3% in the latest numbers. The number of employed residents in the state grew by 35,000 over the past month. At the same time, the state’s labor force expanded by 16,400, signaling that formerly discouraged workers have resumed job searches – borne out of increased confidence and optimism.
"Today’s numbers are another strong showing for California – I hesitate to refer to this as a recovery any longer – this is now an expansion,” said Jordan Levine, Economist and Director of Economic Research at Beacon Economics. "Not only is California adding jobs across most of its industries and regions, but that growth is outpacing the nation and most other states in the nation."
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