Unemployment rate decreased as California regained 2.51 million jobs lost to the pandemic
SACRAMENTO – Governor Gavin Newsom issued the following statement regarding today’s jobs report showing that California created 41,400 jobs in April and decreased the unemployment rate to 4.6 percent, both of which outpaced the national rates of job growth and unemployment reduction:“California continues to lead the nation’s economic recovery, getting more people back to work and off the unemployment rolls than the rest of the country. But we know more work is needed to bolster the economy and help offset higher costs that families are dealing with right now – California’s record $97.5 billion surplus is going right back into Californians’ pockets and addressing our state’s most existential challenges, fostering growth and opportunity for all,” said Governor Newsom. Below are some of the key takeaways from this report: • California has enjoyed month-over-month gains in nonfarm jobs in 14 of the past 15 months, totaling a 1,435,700 job gain over that time period. • California had the largest year-over unemployment rate decrease at -3.7 percent and, in 2022 alone, the unemployment rate has fallen by 1.2 percent compared to the nation’s .3 percent decrease. • Since January 2021, California’s pace of job growth has been 9 percent while the country’s rate has been 5.8 percent. • California has now regained more than 91 percent (2,519,000) of the 2,758,900 nonfarm jobs lost during March and April of 2020 due to the COVID-19 pandemic. • California had the largest year-over seasonally-adjusted job increase in the nation in April 2022. • Eight of California’s 11 industry sectors gained jobs with Leisure & Hospitality (+20,100) posting the largest increase for the third month in a row. Growth in full-service restaurants was the largest contributor towards the gain.