California added 13,600 payroll positions in November, building on the upwardly revised 34,400 jobs added in October, according to Beacon Economics’ analysis of the latest release from the California Employment Development Department (EDD).
While November’s gains fall below the average monthly gains over the last year, the state continues to outpace the nation in terms of year-over-year jobs growth. California payrolls expanded by 2.4% from October 2015, compared to 1.6% in the nation overall.
“California’s labor market has see solid gains throughout the year, although the pace of growth is somewhat lower than last year,” said Robert Kleinhenz, Executive Director of Research at Beacon Economics. “And while the monthly numbers are somewhat mixed across the regions of the state, nearly all have seen sustained increases in yearly terms. The fundamentals of the state economy are sound, and growth is expected to continue into the new year.”
California’s unemployment rate fell to 5.3% in November, down from 5.5% one month earlier. The last time the state saw a 5.3% rate was over 10 years ago in June 2007. The driving force behind this drop has been more local residents finding work, with household employment growing by 47,000, outpacing the 15,300 increase in the state’s labor force.
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