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Calif. Job Growth Slows After Strong Spring

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(Sacramento, CA)
Friday, September 21, 2012

After consecutive months gaining 45,000 jobs in May and June, California's economy has taken a bit of a summer dip.  July's originally-reported increase of 25,000 jobs was just revised down to about 18,000, and August saw only 12,000 new jobs.  The unemployment rate dropped a tenth of a point in August to 10.6 percent, but Chapman University Economist Esmael Adibi says that's only because discouraged job seekers gave up.

Adibi: "The pace of job creation is sluggish - but when you compare it with the national economy, the pace is stronger and we are in the catch-up mode."

And that's the silver lining.  California is gaining jobs at a rate that's a full percent higher than the U.S. as a whole.  And despite the slow August, the state's growth still slightly edged out the nation's.

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