California Adds Nearly 47,000 Jobs in July as Unemployment Remains at Record Low

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Containers are loaded onto shipping vessels from CMA CGM, the French container and transportation company, at the Port of Long Beach on July 6, 2018. (Credit: FREDERIC J. BROWN/AFP/Getty Images)

Containers are loaded onto shipping vessels from CMA CGM, the French container and transportation company, at the Port of Long Beach on July 6, 2018. (Credit: FREDERIC J. BROWN/AFP/Getty Images)

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California payrolls grew by 46,700 jobs in July, a significant gain that came as the unemployment rate held at a record low of 4.2%, according to data released Friday by the state’s Employment Development Department. But as usual, there was little sign of rising wages for workers.

The positive job growth comes as a relief: June’s initial report, which said employers added only 800 jobs to payrolls that month, raised concerns the Golden State’s economic engine was pausing after a remarkable run. But June’s gains were revised upward Friday to 21,500, and July’s job growth came in at more than twice that level.

“It might have been a false alarm,” said Lynn Reaser, chief economist of the Fermanian Business and Economic Institute at Point Loma Nazarene University.

In July, nine of the state’s 11 industry sectors added jobs. Professional and business services led the way with 15,100 new jobs, followed by trade, transportation and utilities, which saw an increase of 11,200 jobs. Employers in leisure and hospitality boosted payrolls by 9,500.

Two graphs depict the number of jobs created and the unemployment rate in California from January 2017 to July 2018. (Credit: Swetha Kannan / Los Angeles Times)
Two graphs depict the number of jobs created and the unemployment rate in California from January 2017 to July 2018. (Credit: Swetha Kannan / Los Angeles Times)

Read the full story on LATimes.com.

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