California's Unemployment Rate Rises to Highest in the Nation Amid Slower Job Growth
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California's job growth has been trailing the national curve all year, with the state's unemployment rate exceeding the national average by more than a full percentage point . In January, California added 58,100 nonfarm jobs, but only 7.7% of the nearly 3 million nationwide jobs created over the prior 12 months have been in California . Economists and business analysts attribute the lagging performance to factors such as the major role agriculture plays in the state economy, the tech industry's belt-tightening, and the state's high costs and employment rules that make hiring difficult and risky . The entertainment industry in Los Angeles lost 38,000 jobs in motion picture and sound recording sectors from January 2023 to January 2024 . The state's underperformance can also be traced to the ...
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