California’s labor market recovers all jobs lost during recession

The California unemployment rate was 4.2 percent in June, unchanged from May. California’s nonfarm payrolls gained 46,200 jobs in June, following a -job gain in May. Construction (up 11,900) gained the most jobs in June. Mining and logging and Financial activities (down 200) lost the most jobs. Labor Force Trends 1 Unemployment Facts 2

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June provided anything but gloom for the California job market, as the state added more than 24,000 jobs in the month and the unemployment rate fell to 7.4 percent.

The Great Recession in the United States was a severe financial crisis combined with a deep recession. While the recession officially lasted from December 2007 to June 2009, it took several years for the economy to recover to pre-crisis levels of employment and output.

But has the relationship between the labor market and the aggregate economy been so unusual during and after the Great Recession? To answer that question, we examine conditions in 11 different recessions and the ensuing recoveries since the late 1940s.

The labor market had not reached a "new normal," but remained deep in the trough that it fell into during the Great Recession. There was still more room to recover. Fortunately, policymakers did not take steps at the time to tighten the economy, and the market has continued its slow recovery for another four years.

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Buzz: California’s economic recovery hasn’t created enough quality job opportunities, leaving the labor participation. just before the Great Recession hit. This job-market statistic has been much.

For many Americans, it has been a long arduous climb out of the depth of the recession. Modest growth, a slow labor market recovery and excessive. finally create much needed job opportunities for.

about workers to firms (Montgomery, 1991). We construct measures of residential labor market network strength intended to captur e these two different dimensions of labor market networks, and estimate and compare the effects of both of them on recovery from job displacement before, during, and coming out of the Great Recession.

A quarterly report issued this week by McMullen and his Oregon Office of Economic Analysis brought renewed spotlight to the state’s uneven recovery. Although Oregon as a whole is expected to recover.