Calif. Job Growth Slows After Strong Spring
Published On : 9/24/2012 11:16 AM
From : CCN
Categories : Local, State
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California added 12-thousand jobs last month – slightly outpacing the nation as a whole, but far short of how the state’s done in previous months.
California’s job growth slowed this summer after a strong spring.
After consecutive months gaining 45-thousand jobs in May and June, California’s economy has taken a bit of a summer dip. July’s originally-reported increase of 25-thousand jobs was just revised down to about 18-thousand, and August saw only 12-thousand new jobs. The unemployment rate dropped a tenth of a point in August to 10-point-6 percent, but Chapman University Economist Esmael Adibi says that’s only because discouraged job seekers gave up.
“The pace of job creation is sluggish – but when you compare it with the national economy, the pace is stronger and we are in the catch-up mode.”
And that’s the silver lining. California is gaining jobs at a rate that’s a full percent higher than the US as a whole. And despite the slow August, the state’s growth still slightly edged out the nation’s.