At 2016 Halfway Point, CA Jobs Growth Continues
Once again California added jobs and outpaced the nation in employment growth, according to Beacon Economics’ analysis of today’s release from the California Employment Development Department (EDD).
California added 40,300 nonfarm positions in June, building on an upward revision from May that added 25,700 jobs. At the halfway point of 2016 the state is averaging job gains of roughly 30,900 positions per month, a slight slow down from the 34,600 per month average observed during the first half of 2015. California also continues to outshine the nation in terms of job growth this year, with the state expanding payrolls by 2.9% compared to just 1.7% growth in the nation overall.
The unemployment rate in California ticked up to 5.4% on a seasonally adjusted basis in the latest numbers, following a trend in the nation as a whole. The driving force behind this uptick was two-fold. First, there was an increase (+24,200) in the state’s overall labor force and second, household employment declined slightly during the month (-3,200). In other words, the number of unemployed workers increased as more workers entered the work force.
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