Riding a wave of seasonal hiring and robust employment in nearly all major industry sectors, California’s unemployment rate plunged to a record low 4.3 percent in December.
The state Employment Development Department said Friday that a robust 52,700 jobs were added to California payrolls last month. The statewide jobless rate was 4.6 percent in November.
EDD said December’s unemployment rate was the lowest since 1976, when it adopted the current record-keeping format. Overall, EDD estimated that nearly 18.5 million were employed statewide last month.
“California had 35.6 percent of all jobs created in the United States in December. California should take a lot of credit for the healthy economic condition in the United States,” said economist Sung Won Sohn of California State University, Channel Islands. “The job gains are pretty much across the board. Essentially, all cylinders are firing.”
Sohn added that “the rosy performance is despite the tightening labor market and the rising cost of living in the Golden State.”