California third in U.S. in October job growth

November 27th, 2009, 7:33 am
posted by Mary Ann Milbourn

Lost among the dreary unemployment statistics was the fact that California saw jobs grow between September and October. It was the first monthly job growth since April 2008, according to state Employment Development Department data.

The 25,700 jobs added in California was the third highest in the country after Texas with 41,700 and Michigan's 38,600. Overall, 28 state saw employment increase in October.

Job growth was unexpected because the nation as a whole lost 190,000 positions in October. California typically is about 10% to 12% of that total so economists expected the state to have a job loss of about 20,000.

Esmael Adibi, a Chapman University economist, said monthly fluctuations in payroll employment usually aren't that meaningful but the fact there was an increase in jobs for the first time in 18 months was hopeful.

However, it will take more than one month to make up for the huge job losses California has suffered. From October 2008 to October 2009 California employers cut 687,700 positions. Nearly 2.3 million Californians were unemployed last month.

http://economy.freedomblogging.com/2009 ... ob-growth/