California’s unemployment rate dropped to 4.9% in March. That marks the first time the jobless rate dipped below 5% since 2006, the Employment Development Department reported.
The state continues to pace the nation in job growth, adding 19,300 new jobs, which accounts for nearly 20% of the 98,000 created in the U.S.
Job growth expanded at a 2.1% rate year-over-year in California, compared with 1.5% nationwide. California’s jobless rate still exceeds the unemployment rate for the U.S., which hit 4.5% in March.
The construction sector was the biggest contributor to jobs, adding 18,900 in March. The information sector, which includes tech businesses, shed 9,400 jobs.
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