SACRAMENTO-The California labor market added 10,400 new nonfarm jobs in April. These new positions represent a 0.1% increase over March employment levels, according to Beacon Economics.
The Los Angeles-based firm points out that while April's pace of growth is substantially slower than gains experienced in March, “it does not come as a surprise given the sustained slow growth we've seen across the nation.” Although payroll numbers may have been weaker in April, the EDD household survey showed that the unemployment rate dropped four-tenths of one percent to 9%, the firm says.
The bulk of the drop in unemployment can be attributed to 71,000 people moving from unemployed to employed, says the firm. “These numbers should be taken with a grain of salt, however. Large divergences between the payroll and household surveys frequently lead to revisions in coming months. One thing that appears clear is that household employment in California has grown faster than the nation overall since 2003.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
