California’s unemployment rate continued to drop in February, but job growth remained sluggish.
The statewide unemployment rate dipped to 5 percent, compared to 5.1 percent in January, according to the California Employment Development Department’s monthly jobs report released on Friday. The state added 22,900 jobs in February, up slightly from January’s 15,300 jobs.
Economist Jeffrey Michael from the University of the Pacific in Stockton said the latest data shows the market is “stabilizing.”
“I don’t expect it to move down much more,” he said of the unemployment rate.
The Sacramento region saw 5.1 percent unemployment in the same period, down from a revised 5.3 percent in January, according to EDD.
Michael said the overall job numbers in Sacramento did not surprise him with the exception of construction, which registered a year-over-year decline of 3.5 percent.
“After a decade-long depression, (workers) move out of the industry,” he said. “New people don’t see it as an industry of opportunity.”