California's unemployment rate has fallen to 5.4% after employers added a surprising 138,100 jobs in February.
FILE - Prospective employers and job seekers interact during during a job fair on Sept. 22, 2021, in the West Hollywood section of Los Angeles. California's unemployment rate has fallen to 5.4% after employers added a surprising 138,100 jobs in February 2022. – California's economy roared to life in February as employers added a surprising 138,100 new jobs, accounting for more than 20% of all employment gains nationally.
California — the nation's most populous state with nearly 40 million residents — was the first to issue a statewide stay-at-home order at the start of the coronavirus pandemic. The state lost just over 2.7 million jobs in March and April of 2020 as its unemployment rate peaked at 16.1%.The new data made public Friday by the California Employment Development Department showed that the state has now regained 87.2% of the jobs that were lost.
"These latest numbers show that California is continuing to drive our nation's job growth," Democratic Gov. Gavin Newsom said. California's labor participation rate — the percentage of people of working age who either have a job or are looking for one — rose to 61.6% in February, the highest since November of 2020, according to Sung Won Sohn, a professor of economics at Loyola Marymount University.
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California unemployment rate falls to 5.4% in FebruaryCalifornia's unemployment rate has fallen to 5.4% after employers added a surprising 138,100 jobs in February
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