IE Business Daily Business news for the Inland Empire.
California’s unemployment rate fell to 3.9 percent in July, a 0.3 percent decline from the previous month and the lowest rate recorded dating to 1976, according to data released today.
Employers added 84,800 non-agricultural jobs in July, a strong number, but the number of people employed in the state is 2.7 percent below the number of those who were working before the pandemic, the state Employment Development Department reported.
California’s non-farm employment has contracted 0.4% since the start of the pandemic, compare to a national increase of a little less than 0.1 percent.
The state, which continues to struggle with a tight labor supply, was above the national unemployment rate of 3.5 percent.
“California is getting very close to fully recovering all the jobs it lost due to the pandemic,” said Taner Osman, research manager at Beacon Economics and the Center for Economic Forecasting at UC Riverside School of Business Center for Economic Forecasting and Development, in a statement. “In fact, if we repeat this month’s job gains next month, we will reach that milestone.”
The Inland Empire added 9,100 jobs in July, a 0.5 percent increase from the previous month, the department reported.
