On the surface it looks like California is maintaining a moderate momentum, according to the latest report of the California Chamber of Commerce Economic Advisory Council (EAC).

In September 2012, the state added 262,000 jobs on a year-over-year-basis; the second fastest year-over-year absolute nonfarm job growth in the nation behind Texas.

The improved job picture was broad-based in terms of industries and regions: 10 major industry sectors added jobs on a year-over-year basis in September 2012; and six categories (trade, transportation and utilities; information; financial activities; professional and business services; educational and health services; and leisure and hospitality) gained 28,300 jobs over the course of the month. 

Looking forward, the EAC continues to be concerned about California’s high unemployment rate of 9.7 percent. If there is no fiscal cliff accident, the state’s overall job growth will continue to plug along aided by relatively good income and taxable sales growth. 

Author: Gail Cecchettini Whaley

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