Saturday, April 21, 2007

CA Job Growth Trumps Bearish Forecasts

Excerpts from the Sacramento Bee

State economy weathers storm
Unemployment rate is steady; jobs increase in capital area

"In the face of a housing market downturn, California's economy is holding its own. Sacramento's seems to be doing better than that.

Statewide unemployment held steady at 4.8 percent last month, as employers added 18,500 jobs, the Employment Development Department reported Friday. It was a good but not great month for job creation and was slightly behind the pace of a year ago, said Howard Roth, the state's chief economist.

Sacramento's unemployment, meanwhile, dipped four-tenths of a percent to 4.9 percent. More important, the region's payrolls increased by 5,400 jobs.

.....The construction sector added 1,700 jobs......Commercial and industrial construction are doing very well, said EDD labor market consultant David Lyons.....

......Overall, payrolls have increased by 2.2 percent in the past year, another indication of the economy picking up some steam. Over the past few months, year-over-year job growth had fallen below 2 percent....."

By Dale Kasler - Sacramento Bee

Link To Story Here

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