IE Business Daily Business news for the Inland Empire.
California’s economy remained strong in August, adding 44,800 jobs while the state’s unemployment rate held steady at 4.2 percent.
That’s the fifth consecutive month California’s unemployment rate has been 4.2 percent, placing the state very close to full employment, according to data released Friday by the state Employment Development Department.
Job growth in August topped July’s job growth: 34,400, down from a revised 46,700.
An estimated 803,000 Californians were unemployed last month, a decrease of 92,000 year-over-year, the department reported.
Eight of California’s eleven industrial sectors added a total of 45,700 jobs in last month. Educational and health services had the largest gain – 18,700 jobs – followed by professional and business services, which added 7,700 and government, which added 6,100 jobs.
Construction added 5,200 jobs, trade, transportation and utilities added 4,700, financial activities increased by 1,800, leisure and hospitality by 1,200 while the information sector added 300 jobs, according to the department.
