California Economy Shows Positive Signs

Despite job losses in government, information, and the non-farm manufacturing sectors, California saw a net gain of 23,600 jobs in May - a full 9.5% of the 248,000 jobs created across the US, according to the California Employment Development Department (EDD).

The increase marked a third straight month of growth, said the agency's latest Labor Market Review, which reported an increase of 14,501,200 jobs in total non-farm industries in May, up 23,600 jobs from last month, following a 15,700-job gain in April and a 21,500-job gain in March.

Compared with May 2003, non-farm employment in the state grew by 110,200 jobs, a 0.8% rise.

This places the California job growth rate nearly on par with that of the nation, the report said.

The release of the employment figures comes as the US Census Bureau's International Trade Division announced that California's merchandise export trade continued to run 25% ahead of last year.

During the first four months of 2004, the Census said, the state's exports totaled $36.3 million, up 25.02% over the $29 million reported for the same period last year.

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