California adds jobs in May; economy shows signs of weakness
2 years, 6 months ago

California adds jobs in May; economy shows signs of weakness

Associated Press  

SACRAMENTO, Calif. — California posted another strong jobs report on Friday as the unemployment rate fell to its lowest point since before the pandemic; but the news was overshadowed this week by the surest signs yet of a wobbly economy that could soon usher in a recession. While the median home price in California set another record in May at $898,980, the monthly average interest rate on a 30-year fixed mortgage surpassed 5% for the first time since April 2010. “We’re beginning to see signs of a more balanced housing market with fewer homes selling above list price and homes remaining on the market a little longer than in previous months,” California Association of Realtors President Otto Catrina said. Rachel Michelin, president and CEO of the California Retailers Association, said retailers are still seeing strong sales — it’s just more of those sales are happening online instead of at a store.

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California adds new jobs as economy shows signs of slowing
2 years, 7 months ago

California adds new jobs as economy shows signs of slowing

Associated Press  

SACRAMENTO, Calif. — California employers added 41,400 new jobs in April, dropping the state’s unemployment rate to the lowest its been since the start of the pandemic following 14 consecutive months of growth. The nation’s most populous state has now regained more than 91% of the 2.7 million jobs lost in March and April 2020, back at the start of …

California’s job growth slowed dramatically in July: August will likely be worse
4 years, 4 months ago

California’s job growth slowed dramatically in July: August will likely be worse

LA Times  

California’s economic recovery slowed markedly last month as COVID-19 infections rose and the state resumed shutting businesses. “July’s forward progress is welcome, but measured against historical benchmarks, the California labor market remains very much in the ICU,” said Scott Anderson, chief economist of Bank of the West in San Francisco. Many small businesses may not survive.” Statewide, nine of California’s …

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