Continuing its strong upward trend, California added another 41,900 nonfarm jobs in October. This builds on the upwardly-revised 21,100 nonfarm positions added in September. The state’s employment expansion continues to outpace the nation's as a whole, with payrolls expanding by 2.9% in California compared to 2% in the nation overall, year-over-year.
Additionally, California’s unemployment rate fell to 5.8% in October. Part of this was due to a decline in the state’s labor force, which dropped by 11,000 in October. However, despite the work force contraction, 15,400 more state residents found work in October, suggesting that the declining unemployment rate is also being driven by improving labor market conditions.
As always, Beacon Economics cautions against reading too much into any single month’s numbers. EDD data is derived from sample-based estimates and may be revised up or down in subsequent months.
Tulare County unemployment rate fell to 10.9% from the prior year and continues to show month over month improvement in non-farm related industries. For a complete seasonally adjusted report, download here.
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