California loses 1,400 jobs as the state's economy shows signs of slowing
California’s economic engine quieted in June as employers reduced their payrolls by 1,400, according to a report Friday by the state’s Employment Development Department. It was the second month this year that the state lost jobs.
The unemployment rate stayed flat at 4.7%, the lowest rate since November 2000.
The state added jobs at a rate of 1.6% over the last 12 months, matching the growth rate in the nation as a whole. California has tended to grow faster than the rest of the country since 2012, but as the job market has tightened, businesses in the state have started taking on fewer new workers each month.
A net reduction of 1,400 jobs is slight compared with the state’s total employment of about 17 million non-agricultural workers. But it is another indication that 2017 could be a year of cooling for California’s typically bustling job market.
Los Angeles County also had a weak month, with employers shrinking payrolls by 1,500. The county’s jobless rate stayed at 4.4%.
Growth statewide was hampered by five industries that reported job losses over the month, including manufacturing and trade, transportation and utilities.
The worst performers in June were the government sector and information â€" which encompasses tech firms and movie studios. The two sectors shed a combined 16,900 jobs.
June was a better month for professional and business services as well as for construction, two reliable drivers of the economy. Combined, they added a total of 17,200 employees.
Twitter: @NatalieKitro
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