IE Business Daily Business news for the Inland Empire.
California’s economy added 8,700 non-agricultural jobs in March, a modest increase likely caused by the heavy rains and flooding that plagued much of the state and slowed construction, according to data released today.
The state’s 4.4 percent unemployment rate, unchanged from February, is considered low but is still below the national unemployment rate of 3.5 percent, the state Employment Development Department reported.
“Given the adverse weather last month, it’s difficult to get a true read on how California’s labor market actually performed,” said Taner Osman, research manager at Beacon Economics. In Los Angeles, in a statement.
“Interestingly, while labor markets in inland communities had been outperforming coastal communities since the start of the pandemic, we are now starting to see these differences level out, with stronger job growth in some coastal communities.”
On the downside, the state’s labor supply – the number of hours people are willing to work at a specific wage rate – grew by 32,700 in March, a month-over-month increase of only 0.2 percent.
The Inland Empire lost 2,300 jobs in March, a drop of 0.1 percent from the previous month, the EDD reported.
