California's unemployment rate has fallen to 5.4% after employers added a surprising 138,100 jobs in February
SACRAMENTO, Calif. — — California's economy roared to life in February as employers added a surprising 138,100 new jobs, accounting for more than 20% of all employment gains nationally.
California — the nation's most populous state with nearly 40 million residents — was the first to issue a statewide stay-at-home order at the start of the coronavirus pandemic. The state lost just over 2.7 million jobs in March and April of 2020 as its unemployment rate peaked at 16.1%. The state has added jobs in 12 out of the last 13 months, averaging about 101,700 new jobs per month. California ranks third in the nation for the fastest job growth, behind Nevada and Hawaii.
The shortage has driven up wages amid desperation by employers to hire more people to keep up with demand as pandemic restrictions are lifted and the economy returns to normal. The wage increases have been tempered by soaring inflation, which makes everything more expensive.California's labor participation rate — the percentage of people of working age who either have a job or are looking for one — rose to 61.
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