41,400 new jobs added in California

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41,400 new jobs added in California

May 22, 2022

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Gradually returning to normal, California has now regained more than 91 percent of the 2.7 million jobs lost back when the first state-wide stay-at-home order forced many businesses to close at the start of the pandemic.

Employers throughout the state have added 41,400 new jobs in April, bringing the state's employment rate to the lowest its been since the pandemic. The state showed some remarkably encouraging signs for its employers when its total labor force, that is people the number of people who other have jobs or are looking for jobs added 111,800 in April. California has 39 million residents accounting for more than 11% of the US population, this means that the economic health of California is an indicator of the economic state of the entire nation. From January 2021 to January 2022, California jobs have grown by 7.4% compared to the national average of 4.6%, says the California Employment Development Department.

Having said that, experts do believe that there are troubling signs on the horizon, California's job growth, albeit encouraging, isn't what it could have been. As indicated by the nearly 1.28 million job openings at the end of March. Inflation is on the rise and home sales which had hit a record number in the beginning are starting to experience a rapid decline. New unemployment claims remain high with the state accounting for 24% of all the new jobless claims in the country.

Source: CBS Sacramento

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