CA News: California Adds New Jobs, Economy Slows
California employers added 41,400 new jobs in April. The gain lowered the state’s unemployment rate to 4.6%, the lowest it’s been since the start of the pandemic.
California has now regained more than 91% of the 2.7 million jobs lost in March and April 2020, the beginning of the Covid-19 pandemic when Gov. Gavin Newsom issued the nation’s first statewide stay-at-home order.
California’s labor force also increased in April, a sign more people are looking for work.
Experts say the news isn’t all good, as inflation remains high and home sales have slowed as interest rates have increased.
-Jeff Lemucchi