The latest California employment numbers are out, and on the surface, July’s 38,000 job gain looks great. But as Ben Adler reports from Sacramento, a troubling trend in today’s report calls that gain into question.
The 38,000 job increase is the state’s largest monthly gain this year. It’s also nearly a quarter of the nation’s total job growth in July. But citing a flawed seasonal adjustment in teacher jobs, the state is revising June’s 30,000 job gain down to 12,500, and May’s 17,000 increase down to 9,500.
"Yeah – that makes me worry, too," says Chapman University Economist Esmael Adibi, California’s unemployment rate rose from 8.5 percent to 8.7 percent.
But, Adibi says, if July’s 38,000 job gain is accurate, "with the exception of manufacturing and government, all the other sectors of the economy are generating jobs," pushing California to a total gain of nearly 240-thousand in the last 12 months.