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California unemployment rate hits record low of 4.1 percent in July

California unemployment rate hits record low of 4.1 percent in July
Posted: 6:47 PM, Aug 18, 2019
Updated: 2019-08-19 01:43:39-04
The Latest: Solid jobs report unlikely to change Fed plans
California unemployment rate hits record low of 4.1 percent in July

According to the California Employment Development Department job growth in the state of California is now in its 113th month... tying with the expansion of the 1960s.

The EDD also stating this past Friday that California's unemployment rate also hit a record low this July... reaching 4.1 percent, same as July of 2018.

For the past nine years, California has been able to add an average of 29,200 jobs per month. This largely surpasses the 8,000 to 9,000 jobs required to accommodate the growing workforce in the state.

Founder and president of Central Coast Brewing George Peterson said while employment has decreased, the number of adequately employable individuals has also diminished... with many looking to make more than what can be offered.

"They think they are going to start at $30,000 a year... $35,000 a year... in a non-career based job and that's not the case," said Peterson. "A living wage now is so expensive."

While the unemployment rate hits a new low in California and more jobs become available, those looking at future employment are still concerned about how they will be able to live within the state.

"The fact that California's unemployment rate is at an all time low is very reassuring... a lot of my friends who just graduated last year they all have great jobs," said Cal Poly kinesiology student Dylan Loquist. "The problem however is the cost of living in California is so high."

Since 2010, California has gained about 3.2 million jobs which translate to about 15 percent of the nation's job gains for the past nine years.

According to the EDD, San Luis Obispo County comes in with an employment rate below the state average at 3.2 percent. Santa Barbara County comes in at 3.7 percent.