SACRAMENTO – Unemployment in California has dropped to 10.1 percent for the month of October, marking a tenth of a percent improvement over the previous month. According to the California Employment Development Department, employers statewide added nearly 46,000 jobs.
For both Santa Barbara and San Luis Obispo Counties, the unemployment rate was 7.3 percent. That number put the counties in the top six for best unemployment rate in the state. For more information, see story below.
Story provided by California Employment Development Department (EDD)
California's unemployment rate decreased to 10.1 percent in October, and nonfarm payroll jobs increased by 45,800 during the month for a total gain of 574,900 jobs since the recovery began in February 2010, according to data released today by the California Employment Development Department (EDD) from two separate surveys.
The U.S. unemployment rate increased in October to 7.9 percent. In September, the state's unemployment rate was 10.2 percent, and in October 2011, the unemployment rate was 11.5 percent. The unemployment rate is derived from a federal survey of 5,500 California households. Nonfarm jobs in California totaled 14,417,200 in October, an increase of 45,800 jobs over the month, according to a survey of businesses that is larger and less variable statistically. The survey of 42,000 California businesses measures jobs in the economy. The year-over-year change (October 2011 to October 2012)shows an increase of 295,300 jobs (up 2.1 percent).
EMPLOYMENT AND UNEMPLOYMENT IN CALIFORNIA
The federal survey of households, done with a smaller sample than the survey ofemployers, shows an increase in the number of employed people. It estimates the number of Californians holding jobs in October was 16,512,000, an increase of 56,000 from September, and up 200,000 from the employment total in October of last year. The number of people unemployed in California was 1,848,000 – down by 29,000 over the month, and down by 274,000 compared with October of last year.
PAYROLL EMPLOYMENT DETAIL (SEASONALLY ADJUSTED)
EDD's report on payroll employment (wage and salary jobs) in the nonfarm industries of California totaled 14,417,200 in October, a net gain of 45,800 jobs since the September survey. This followed a gain of 32,000 jobs (as revised) in September. Seven categories (construction; manufacturing; trade, transportation and utilities; professional and business services; educational and health services; leisure and hospitality; and other services) added jobs over the month, gaining 58,200 jobs. Trade, transportation and utilities posted the largest increase over the month, adding 24,700 jobs. Four categories (mining and logging; information; financial activities; and government) reported job declines over the month, down 12,400 jobs. Government posted the largest decrease over the month, down 8,600 jobs. In a year-over-year comparison (October 2011 to October 2012), nonfarm payroll employment in California increased by 295,300 jobs (up 2.1 percent). Seven categories (construction; trade, transportation and utilities; information; financial activities; professional and business services; educational and health services; and leisure and hospitality) posted job gains over the year, adding 346,100 jobs. Professional and business services posted the largest gains on a numerical basis, adding 86,000 jobs (up 4.0 percent). Information posted the largest gains on a percentage basis, up 5.3 percent (adding 23,100 jobs). Four categories (mining and logging; manufacturing; other services; and government) posted job declines over the year, down 50,800 jobs. Government posted the largest decline on both a numerical and percentage basis, down by 37,800 jobs (a 1.6 percent decrease).
In related data, the EDD reported that there were 453,448 people receiving regular unemployment insurance benefits during the October survey week. This compares with 470,515 last month and 494,752 last year. At the same time, new claims for unemployment insurance were 55,543 in October 2012, compared with 48,017 in September and 68,724 in October of last year.
Employers added 45,800 jobs in October, the Employment Development Department reported. In addition, September's previously reported job gains were revised upward significantly, to 32,000. The unemployment rate fell a tenth of a percent.
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