Good News for jobs

Where are all the “bubbleheads” who two years ago began predicting the collapse of the housing market would lead to recession? While home sales are pretty slow and values have taken a hit, the California’s economy continues to set all time records for the number of people working.

Statewide employment gained 18,500 new jobs last month while the unemployment figures sat at historically lows of 4.8 percent. In the Capital Region employers added 5,400 jobs for the month of March. David Lyons with the EDD reported that while residential construction was down from last year the commercial and industrial construction sector added 1,700jobs. Total construction employment in the region was 2.4 percent higher this last month than a year earlier. Other sectors of the regional economy are also doing well.

Ten of the 11 major industry sectors have grown since last year according to the state labor department. Only manufacturing had fewer employees. Sacramento retail added 600 jobs last month, leisure and hospitality gained 800 jobs, state and local government, technology and medial all showed employment gains. Overall local payrolls have increased 2.2 percent from 2006.

And in case you missed the other bright economic news, on Friday the Dow Jones industrial average, finished close to another record high at 13,000.
Now go take on the week.