California’s unemployment rate reaches historic low

SACRAMENTO, Calif. (AP) — California’s unemployment rate has again fallen to an historic low of 4.1% as the world’s fifth-largest economy continues to add jobs following the Great Recession.

State officials said Friday that California’s job expansion is now in its 113th month, tying the expansion of the 1960s as the longest on record. The more than 3.2 million jobs California has added since 2010 account for more than 15% of the country’s job gains over that time.

The jobless rate was also 4.1% for part of 2018.

California needs 8,000 to 9,000 new jobs each month to keep up with a growing workforce. Over the last nine years the state has averaged an additional 29,200 new jobs per month.

Analyst Michael Bernick warns a trade war with China could derail California’s job growth.

Categories: California News