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California adds 41,200 jobs in October; unemployment rate is lowest since 2007
October's faster job growth for California mirrors that of the U.S., which posted a healthy gain of 271,000 jobs last month -- much more than in September.
California has added jobs at a rate of 2.9% over the last year, faster than the 2% growth rate for the U.S. overall.
The fastest gains over the last year have come in the construction industry, which posted a 7.3% gain since last October, and professional and business services, up 5.3%.
Since the Great Recession sent California's unemployment above 12% in 2010 -- higher than every state except Michigan and Nevada -- the state's economic rebound has been swift. For the last three years, California has added jobs at a rate faster than all but five other states.
SoCal economic forecast: More businesses coming than going
Thornberg said Southern California could be doing more to attract business, but for now at least, most executives feel the positives of being here, such as quality of living and proximity to tech and film companies and key ports, outweigh the negatives, like higher taxes and housing costs.
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You get what you pay for. Republicans think if you make everything cheap for business, they turn out quality. Not so. Cheap breeds cheap.
October's faster job growth for California mirrors that of the U.S., which posted a healthy gain of 271,000 jobs last month -- much more than in September.
California has added jobs at a rate of 2.9% over the last year, faster than the 2% growth rate for the U.S. overall.
The fastest gains over the last year have come in the construction industry, which posted a 7.3% gain since last October, and professional and business services, up 5.3%.
Since the Great Recession sent California's unemployment above 12% in 2010 -- higher than every state except Michigan and Nevada -- the state's economic rebound has been swift. For the last three years, California has added jobs at a rate faster than all but five other states.
SoCal economic forecast: More businesses coming than going
Thornberg said Southern California could be doing more to attract business, but for now at least, most executives feel the positives of being here, such as quality of living and proximity to tech and film companies and key ports, outweigh the negatives, like higher taxes and housing costs.
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You get what you pay for. Republicans think if you make everything cheap for business, they turn out quality. Not so. Cheap breeds cheap.