Wednesday, August 22, 2012

California has 3rd straight month of strong job gains, outpacing U.S.

California's job creation pace has accelerated in the last few months, with employers adding 25,200 jobs in July at nearly twice the U.S. rate.

Despite the job gains, the unemployment rate is stuck at 10.7%, according to data from the state's Employment Development Department.

July is the 12th straight month of job gains, and the year-over-year growth rate has been 2.6% -- nearly twice the U.S. rate of about 1.4% .

"California is gaining momentum," said Esmael Adibi, director of the A. Gary Anderson Center for Economic Research at Chapman University.

"This report as a very good report," he said. It is "indicative of a continuation of the growth."

Still, the report contained some mixed results. About 1.96 million Californians are unemployed and the labor force shrank by 52,500 in July. And most of the recovery has been concentrated in the coastal areas. Silicon Valley and the Bay Area have enjoyed much of the job growth, while the Inland Empire and Central Valley languish.


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