California Unemployment Falls to Lowest rate in 16 Years

The U.S. dollar fell and was poised for its worst week in more than a year while world stock markets edged up on Friday amid some calm following declines earlier in the week spurred by uncertainty relating to Donald Trump's U.S. presidency.

By Chriss W. Street
The number of Californians employed in nonfarm jobs actually fell by 16,300 jobs in April, but on a seasonally adjusted basis the unemployment rate ticked down by 0.1 percent. The state’s employment growth since the bottom of the Great Recession in January 2010 is tracking at a gain of 2,494,600 jobs, according to the California Employment Development Department (EDD).
California’s seasonally adjusted unemployment rate still lags the national rate, which also ticked down by 0.1 percent in April to 4.4 percent, as American employers added 211,000 nonfarm payroll jobs. There were 923,000 unemployed Californians at the end of April, down 20,000 for the month and down by 132,000 from the same time last year.
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