California, with 5th largest economy in world, posts June jobs gain of…800

California, with 5th largest economy in world, posts June jobs gain of…800
Let my people go. Monarch, the last California Golden Bear in captivity, in photo ca. 1900. UC Berkeley, Bancroft Library

[Ed. – Due to large job losses in 7 of 11 economic sectors.]

California’s economic engine paused in June, as employers added a meager 800 new jobs. The unemployment rate held steady at a record low of 4.2%, according to data released Friday by the state’s Employment Development Department.

The June numbers represent a pullback from May, when the Golden State added 7,200 jobs. And the gains in May were much smaller than April, when employers boosted payrolls by nearly 26,000.

The slowdown could signal that California is simply reaching full employment. Employers are struggling to find workers. Or it could be a sign of sagging confidence among executives. …

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[S]even sectors saw job losses. Leisure and hospitality cut 4,000 jobs. The construction sector shrank by 2,900. Trade, transportation and utilities lost 2,600 jobs. Employers in manufacturing, finance, mining and logging and “other services” also trimmed payrolls.

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