California employers have added jobs for 25 straight months, the
longest streak in the nation, with a total gain of 807,700 since the state's job
market hit bottom in February 2010, the state Employment Development
Department's annual Labor Day Briefing said.
"California is making a remarkable comeback from a nationwide recession of historic magnitude," said Sharon Hilliard, EDD chief deputy director.
"The unemployment rate has fallen to a nearly five-year low, the private sector is hiring, the housing market is recovering, the tech industry is thriving and the future is looking brighter."
The report shows that opportunities in the professional and business services and leisure and hospitality industries are leading the way, producing more than half of the net new jobs in the current expansion. Educational and health services, and trade, transportation and utilities have also seen solid job gains.
EDD projects a job gain in California of 680,700 in the two-year period between 2012 and the third quarter of 2014, with only the government sector losing jobs.
The full report can be seen at www.calmis. ca.gov/specialreports/ Labor-Day-Briefing- 2013.pdf.
(c)2013 The Sacramento Bee (Sacramento, Calif.)
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Distributed by MCT Information Services
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