Wall Street:
Most U.S. states in June still hadn’t regained all the jobs lost in
the recession that ended five years earlier, the latest reminder of the
recovery’s unevenness.
But one particularly important state reached that milestone last month: California,
the nation’s largest labor market accounting for about 11% all of U.S.
jobs, finally topped its July 2007 peak for nonfarm employment.
The Golden State was hit hard by the recession and the housing
downturn, but has added more than 1.35 million jobs since bottoming out
in February 2010. Its 7.4% jobless rate in June was down from a high of
12.4% for much of 2010.
Great news, but watch the budget hi-jinks. Many of these jobs are part time or Obamacare recruiters, and Obamacare is over budget.
No comments:
Post a Comment