California Unemployment Falls to Lowest rate in 16 Years

California’s unemployment rate fell to 4.8 percent in April, the lowest rate since the top of the dot-com bubble in December 2001.

By Chriss W. Street

The number of Californians employed in nonfarm jobs actually fell by 16,300 jobs in April, but on a seasonally adjusted basis the unemployment rate ticked down by 0.1 percent. The state’s employment growth since the bottom of the Great Recession in January 2010 is tracking at a gain of 2,494,600 jobs, according to the California Employment Development Department (EDD).

California’s seasonally adjusted unemployment rate still lags the national rate, which also ticked down by 0.1 percent in April to 4.4 percent, as American employers added 211,000 nonfarm payroll jobs. There were 923,000 unemployed Californians at the end of April, down 20,000 for the month and down by 132,000 from the same time last year.

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