April 24, 2017
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.
For comments, questions or concerns, please contact Dennis Kaiser