Thursday , May 30 2024
Breaking News
hiring prospects

California adds 96,800 jobs in October

California’s unemployment rate fell to 7.3 percent in October – a year-over-year increase of 2.5 percent – as state employers added 96,800 non-agricultural jobs during the month, according to data released Friday.

The state has now regained 64.7 percent of of the 2.7 million-plus jobs it lost in March and April of last year when COVID-19 hit, the state Employment Development Department reported.

Of the 11 major job sectors, professional and business services (+39,500) and leisure and hospitality (+21,500) led the way. Trade, transportation, and utilities also performed well, adding 14,900 jobs.

Government, which dropped approximately 4,000 jobs last month at the city and county level, was the only sector to lose jobs.

California has averaged more than 100,000 job gains a month since February. The state accounted for about 18.5 percent of the nation’s job gains in October, the department reported.

However, the state’s jobless rate in October remained well above the national rate of 4.6 percent.

“We’re close to two years since the world was broadsided by the pandemic and California’s unemployment rate remains stubbornly high,” said Taner Osman, research manager at the UC Riverside Center for Economic Forecasting and Development, in a statement. “Unfortunately, there are no quick fixes here, and we expect unemployment to stay elevated well into 2022.”

Riverside and San Bernardino counties both outperformed the state last month, as each recorded unemployment rates of 6.3 percent, according to the employment development department.

Check Also

IE manufacturing

Third-party logistics likes Inland “big-box” space

Third-party logistics companies are dominating one sector of the Inland Empire industrial market. Those companies, …

Leave a Reply

Your email address will not be published. Required fields are marked *