California's Unemployment Rate Declines To 6.9 Percent In November
SACRAMENTO (CBS13) — With employers adding over 45,000 non-farm payroll jobs, the unemployment rate declined to 6.9 percent in November, said the California Employment Development Department.
Credit: California Employment Development Department (EDD)
This new job growth added roughly 1,889,000—or nearly 70 percent—of the 2,714,800 jobs that were lost in March and April 2020 due to the COVID-19 pandemic.
For the economy, this is good news. If the trend continues, California is on the way back to the normalcy that was lost since the beginning of the pandemic.
On the job growth, Governor Newsom said, "Since February, California has created nearly 1 million jobs, an unprecedented achievement for the state's economic recovery. While the state continues to see a robust recovery, creating nearly 22 percent of the nation's jobs in November and the largest unemployment rate decrease since February, there's still more work to be done getting folks back to work and supporting those hardest-hit by the pandemic."
Additionally, this is also good for the larger U.S. economy as California's November 2021 gain of 45,700 nonfarm jobs accounted for nearly 22 percent of the nation's 210,000 overall jobs gain for the month.