California created nearly one in five of the nation’s new jobs
What you need to know: California created 21,100 new jobs in July, nearly 1 out of every 5 jobs that the country added last month. July also saw the highest-ever number of fast food jobs in California history.
SACRAMENTO — California’s job expansion has continued into its 51st month, with Governor Gavin Newsom announcing that the state created 21,100 new jobs in July. Fast food jobs also continued to rise, exceeding 750,000 jobs for the first time in California history.
“Our steady, consistent job growth in recent months highlights the strength of California’s economy – still the 5th largest in the entire world. Just this year, the state has created 126,500 jobs – solid growth by any measure.”
Governor Gavin Newsom
With July’s data, California has now created 284,400 new jobs within the past 12 months, which was a 1.6 percent increase. The state’s unemployment rate held steady at 5.2 percent. Four of the state’s eleven industry sectors gained jobs last month.
California’s economy by the numbers
California is home to the most Fortune 500 companies – beating out Texas, Florida, and all other states. Travel spending reached an all-time high of $150.4 billion. Plus, leading the next generation, California is home to 35 of the world’s 50 leading AI companies, high-impact research and education institutions, and a quarter of the technology’s patents and conference papers. California has one of the most equitable tax systems in the entire country, and is #1 in the nation for new business starts, #1 for access to venture capital funding, #1 for manufacturing, #1 for high-tech, and #1 for agriculture.