4 signs California’s job market is cooling

As reported by the Orange County Register:

Have California bosses changed their hearts about hiring?

After six straight years of job gains, 2017 started with the slowest employment upswing since the first year of the recovery from the Great Recession.

Using data from the state Employment Development Department and the U.S. Bureau of Economic Analysis, here are four reasons behind the cooling.

No. 1: Fewer layoffs

California bosses have a low-risk way to keep payrolls up: skip the pink slips!

Just look at initial unemployment claims, seen as a snapshot of how many employees have recently lost their jobs. State employment counters report that in the year ended in February, 2.35 million unemployment claims were made.

That may sound like a like of layoffs but it’s actually historically small.

For starters, it’s the slowest annualized pace of Californians filing for jobless claims since December 2007. …

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Comments

  1. Patton'sGhost says

    And THIS is the most PRACTICAL reason why the movers are here in three weeks…
    That, and the R/E market is still hot and desperate parents are still clamoring to get their precious progeny enrolled in the local, solar powered school system!

    Time to take the money & run!!!

  2. Isn’t this wonderful news? Jerry Brown and his band of merry Democrats have won!

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