
Labor Market Report for September 2022
The California Labor Market Information Division (LMID) released its September 2022 report on Friday, the overall data showing some positive change, including a net gain of 2,100 industry jobs and an improvement in the unemployment rate, from 3.5% in August to 3.3% in September.
Most encouragingly, the improvement in the unemployment rate came as a result of a gain by 3,100 more workers reporting employment and, happily, by a decline of 900 workers reported as unemployed.
Or put another way, our unemployment rate improved not because workers were dropping entirely out of the labor market (as has been the case for several recent months), rather, as we so strongly prefer, because more workers were taking jobs. This is good both for workers and their earnings as well as for employers who have been struggling to find workers to take their jobs. That noted, the gains varied widely across the key industry sectors. We’ll share more on how that played out by industry in our comments below. For the official September data, click here.
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