Vol. 1, No. 8, Published December 9, 2015
California Job Tracker: 3 More Regions Recover Jobs Lost During Recession
By Lynn Reaser
California�s job gains deepened and broadened further in October as the state�s economy continued to post good momentum. The state added more than 40,000 jobs over the month, while the jobless rate fell to 5.8 percent, the lowest level in eight years.
The job recovery has also now reached 25 of California�s 29 metropolitan areas. Between September and October, the latest numbers indicate that three additional areas have been added to the list of those fully recovering all of the losses experienced during the Recession. These include Oxnard-Thousand Oaks-Ventura, Santa Cruz, and Vallejo-Fairfield.
Only four remain, including the large Sacramento area, which appears only one to two months away from achieving its prior job peak.
Figure 16: 25 of California�s 29 Metro Areas Have Recovered Recession Job Losses
(As of October 2015)
Sources: California Employment Development Department, Labor Market Information; Fermanian Business and Economic Institute
(Nonfarm Employment, Seasonally Adjusted)
*Numbers for the San Francisco-Redwood City-South San Francisco Metropolitan District and San Rafael Metropolitan District are not seasonally adjusted.
Sources: U.S. Bureau of Labor Statistics, California Employment Development Department, Fermanian Business and Economic Institute
See raw data: Employment numbers by region.
Lynn Reaser is chief of the Treasurer’s Council of Economic Advisors and chief economist at the Fermanian Business and Economic Institute for Point Loma Nazarene University. The opinions in this article are presented in the spirit of spurring discussion and reflect those of the author and not necessarily the Treasurer, his office or the State of California.