California's unemployment rate drops by 0.4 percent
May 19 , 2013
There was a recorded drop of 0.4 percent in California's unemployment rate. The rate is now down to 9 percent.
A recorded total of 10,400 jobs were added in the month of April. Out of these, 7,400 jobs were in the construction sector.
Economists predict a similar slow-but-steady drop in the unemployment rate. They added that the state of the economy needs to be seen in a context of a drop in consumer spending. Retail sales in April recorded only a mere 0.1 percent rise as opposed to a drop in the month of March.
The trend nation-wide witnessed a similar inrease in positions. The states of Texas, New York and Florida added 33,100, 25,300 and 17,000 positions respectively.
Conomists also preidict a similar pattern of economic growth with expected increase in consumer spending on tourism and related sectors during the summer.