California unemployment rate dips to 7.3 percent

Oct 17, 2014 2:36 PM by News Staff

SACRAMENTO, Calif. (AP) - California's unemployment rate fell to 7.3 percent in September even as the number of jobs in the state dipped by 9,800.

The California Employment Development Department reported Friday that the jobless rate has continued to decline since the economic recovery began in 2010. The unemployment rate was 7.4 percent in August.

Former department director Michael Bernick says not too much should be made of the loss of 9,800 jobs in September. He says the survey likely understated job growth, just as it overstated a gain of 44,200 jobs in August.

Construction was a bright spot in the economy with an increase of 4,400 jobs from a month earlier, bringing the sector to 680,700 jobs. That is still well below the 900,000 construction jobs in 2007 but shows continued gains.

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