California Monthly Job Growth Streak Approaches 4 Years
June’s data revealed that the state added 22,900 nonfarm payroll positions in the past month.
While it is a decline from May’s 46,200 jobs, the continued growth has some economists wondering something that the public has surely been waiting for.
Is the recovery over?
Jordan Levine, director of economic research at Beacon Economics, is hesitant to continue calling it a recovery, staking the claim that, “This is now an expansion.”
Statewide unemployment took another tick down to 6.3%, down 1.2% from June 2014.
Nationally, unemployment is down to 5.3% but California job levels continue to outpace the rest of the country. California jobs have jumped 13.5% since the recession, while nationally they are up 9.4%.
More locally, June proved to be another steady month with gains like LA County, where unemployment dropped 0.2% to 7.4%, and loses, San Diego County’s rose just a hair, up 0.1% to 5.0%.
Analysts are now saying that every region in the state but Sacramento has reclaimed the jobs lost during the downturn.
Further reading on the June jobs data can be found here.