IE Business Daily Business news for the Inland Empire.
California recorded an 7.3 percent unemployment rate in October, while generating the largest job increase in the nation during that time.
Employers in the state added 41,500 non-farming jobs last month, according to data released Friday by the U.S, Bureau of Labor Statistics.
Texas – the only state that has added more jobs than California this year – was second to California in jobs added during October, with 35,200 jobs created during that month, according to the data.
California’s jobless rate fell 1.3 percent year-over-year. Its job increase follows a drop of 14,200 jobs in September that may have been a statistical fluke. The state’s labor force is growing, 88,500 more people working – or willing to work – than in September.
Except for financial services, which lost 400 workers, nearly all major manufacturing sectors added jobs last month, according to the data.
The U.S. unemployment rate during October was 5.8 percent.
