California posts biggest job gain since May 2006

[bemildred]

The state's struggling labor market showed signs of life in October, adding 39,000 jobs in the biggest employment increase since May 2006.

The gains were widespread, with employers adding positions in nearly every sector of the economy. But it wasn't enough to make a dent in California's unemployment rate, which remained at 12.4%, according to figures released Friday by the state Employment Development Department. Still, the performance was a major improvement over September, when payrolls declined by 53,600 jobs.

October "marks the first solid month of recovery for the California economy," said Stephen Levy, director of the Center for Continuing Study of the California Economy in Palo Alto. "If these gains are confirmed in the following months California will have finally turned the corner toward job growth and reducing unemployment."

http://www.latimes.com/business/la-fi-1120-caljobs-20101120,0,6575200.story

[mackerel]

1. I think until we see the percentage rates change

it will be hard for people to get hopeful.