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California job market: layoffs and unemployment rate tick upwards

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Even though job growth is positive in California, that growth has slowed significantly.

In August, new jobs stood at 20,000, way less than the 60,000 jobs the Golden State averaged in the last year. On the other side of slowing job growth, layoffs are now increasing.

This caused the unemployment rate to increase slightly from 3.9% In July to 4.1% in August. "Still very low by all historic standards here in California," said Bernick. In fact, there is now a near record 1.3 million California job openings, 150,000 more than the previous month, including the astonishing reality that, once again, more than 400,000 workers quit their jobs.

 

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