California’s Economic Recovery & Job Growth Outpaced the Nation’s, Continues to Create Tens of Thousands of Jobs Every Month

 
03/12/2022

 [ Article originally appeared in http://www.gov.ca.gov ]

Governor Gavin Newsom issued the following statement regarding today’s jobs report showing that California had a stronger economic recovery than previously estimated, outpacing the nation’s rate of job creation last year and adding 53,600 jobs in January:   “California’s economic recovery last year was unprecedented, creating over 1.17 million jobs and running far ahead of the nation’s job growth. Our approach has been to follow the science while supporting those hardest hit by the pandemic, and it not only saved tens of thousands of lives – it got our state back to work faster and better than the rest of the country. These figures represent real paychecks in people’s hands, but we know that there’s more work to do – we’re committed to building on this progress.”
  • Updated data shows that California outpaced the rest of the nation in year-over job gains, with the state posting a 7.4 percent increase in jobs compared to the national job increase of 4.6 percent for the same time period.
  • The benchmarked data shows the state’s job recovery so far is much stronger than first estimated, now regaining 2,261,100 of the 2,758,900 jobs lost in March and April 2020 due to the COVID-19 pandemic, approximately 82 percent.
  • ??December’s unemployment rate was revised down 0.7 percentage points to 5.8 percent due to updated benchmarking figures that showed an increase of 248,200 jobs for that month.
  • California’s employers added 53,600 nonfarm payroll jobs to the economy in January 2022, and a total of 1,177,800 nonfarm jobs over the year.
  • Eight of California’s 11 industry sectors gained jobs in January, with Trade, Transportation, and Utilities (+26,600) posting the largest gain, primarily within the General Freight Trucking industry subsector.
SOURCE: https://www.gov.ca.gov/2022/03/11/californias-economic-recovery-job-growth-outpaced-the-nations-continues-to-create-tens-of-thousands-of-jobs-every-month/


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