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Third Straight Month of Positive Jobs News for California

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(Sacramento, CA)
Friday, November 18, 2011

California has now gained 240,000 jobs in the last year - well above the 150,000 needed to keep the state's unemployment rate from going up.  So it should be no surprise that the jobless rate dropped two-tenths of a percent last month.  It's nearly a full point better than a year ago.  Chapman University Economist Esmael Adibi calls the report the best since the recession because nearly every sector saw growth. 

Adibi: "Some people, as you may recall, two months ago, they said, we're headed back to another recession.  Obviously, that's not the case, and the job creation is gaining momentum.  But no question, the pace is not strong enough."

And, Adibi says, the European debt crisis, Congressional Supercommittee and state budget could all lead to setbacks.

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