Finn Torode
Unemployment rates fell in California and Sacramento last month, state officials said today.
California’s unemployment dropped two-tenths of a percent to 11.9 percent, the Employment Development Department reported. Payrolls grew by 11,800. Perhaps more importantly, a revision showed that employers added 21,100 jobs in August. That erases a previously reported loss of 8,400 jobs.
Dennis Meyers, an economist with the state Department of Finance, said the numbers suggest “we’re kind of back on the modest growth trend. Not really exciting, but in the right direction.”
Sacramento area unemployment fell to 11.5 percent, down 0.4 percent from August. But the EDD said payrolls in the four-county region actually shrank by 4,000 jobs. The leisure and hospitality sector lost 3,600 jobs, and construction employment fell by 1,800.
Economists generally say the payroll figures are a more accurate barometer than the unemployment rate.
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