Commentary California is getting to work and employers are looking to hire. The good comes from the California’s Employment Development Department’s (EDD) most recent data. California’s March unemployment rate shrank to 8.3 percent from 8.5 percent in February. Notably, this is still substantially above the 4.5 percent unemployment rate in March 2020, when the pandemic led to panic buying of toilet paper, the sudden cancellation of St Patrick’s Day plans, and the beginning of government-imposed stay-at-home orders. About 16.1 million Californians are now in a wage-paying job—about 119,000 more than in February. The figure is still down from some 17.5 million jobs in March 2020. Year-over-year, there are now 1.35 million fewer people employed in California. At a pace of 119,000 new jobs per month, it will take another 11 months to get back to pre-pandemic employment levels in the Golden State. Job Postings Up However, job prospects do look …
California’s Job Market is Rebounding
April 20, 2021
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