Unemployment in region holds steady
Publisher’s note: Nevada continued to register the highest unemployment rate among the states at 12.4 percent in June. California had the next highest rate, 11.8 percent. El Dorado County’s unemployment rate last month was 12.1 percent compared to 12.7 percent a year ago as well as in May 2011. Placer County’s June unemployment rate was 11.4 percent. It was 10.8 percent the prior month and 11.6 percent in June 2010.
By Dale Kasler, Sacramento Bee
The job market shook off the blahs in surprising fashion in California and Sacramento last month.
But in spite of a surge in hiring reported Friday, unemployment rates actually increased in June.
And it’s unclear if the latest report from the Employment Development Department means the economy is truly gaining momentum – or if June was just another tease.
On the plus side, Sacramento’s job market had a historic month: Payrolls grew by a resounding 13,500 jobs. That was the single best month since modern record keeping began 21 years ago, said EDD labor market consultant Justin Wehner.
Big job gains were reported in the restaurant, travel and entertainment industries, among others. Employers such as Thunder Valley Casino have put out help-wanted banners.
“It could be a sign we’ve finally joined the recovery,” said economist Jeff Michael of the University of the Pacific. “Sacramento has just been the caboose on this thing.”