California sets new low unemployment record in July
Associated PressSACRAMENTO, Calif. — California’s unemployment rate fell to 3.9% in July, the lowest point since 1976 as employers in the the nation’s most populous state continued to defy expectations by adding 84,800 new jobs. While California makes up 11.7% of the nation’s civilian labor force, the state accounted for 16.1% of all new jobs in the U.S. last month. The fear of an oncoming recession, if we are not in one already, will cause people to look for work.” Bernick, now an attorney with the Duane Morris law firm who closely tracks California’s labor market, said he suspects the state is still being propped up by billions of dollars from federal stimulus spending and the state’s budget surplus. California’s budget includes $9.5 billion in refunds to about 23 million people, something Newsom touted Friday when boasting about the state’s low unemployment rate.
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