'96 SAW JOBS UP IN STATE : GROWTH RATE TOPS NATION'S.Byline: Gregory J. Wilcox Daily News Staff Writer California's economy bulked up by 322,200 jobs during 1996, the most in eight years, and muscled the unemployment rate to its lowest level since 1991, the state said Friday. California's annual job growth rate of 2.6 percent bested the nation's rate of 2 percent, an indication that economic recovery has a solid foothold here. The growth is broad-based and analysts expect the trend to continue into this year. ``We've moved ahead of the national average on employment growth and that's just a reflection that some of the negatives continue to fade,'' said Gary Schlossberg, vice president and senior economist at San Francisco-based Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. & Co. ``The aerospace cuts have subsided and the out-migration (of jobs) is petering out.'' The state performed better last year than some economists predicted, which is good news. Jack Kyser, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the for the Economic Development Corp. of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County forecast a 2.5 percent rate at this time last year. ``We're on a roll. The recovery is real,'' Kyser said. ``There is some good, solid momentum out there.'' Last month California's jobless rated plunged to 6.8 percent, down a full percent from December 1995 and its lowest level since November 1990. The annual average rate last year was 7.3 percent, down from 7.8 percent in 1995. That's the lowest annual average since a 7.7 percent rate in 1991. Meanwhile, unemployment in Los Angeles County dipped to 6.7 percent last month, down from 7.6 percent in December 1995. The annual jobless rate for the county settled at 8 percent, up slightly from 7.8 percent in 1995. Last year 95,100 new jobs were added in the county, a growth rate of 2.5 percent. ``It's solid growth compared with all of the '90s. But it you compare it with prior decades and even prior economic expansion it's on the moderate side,'' said Peter Force, a county labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience analyst for the state Employment Development Department, which compiles the jobless report. Force said that the construction, entertainment and apparel sectors drove the local job growth. Construction was especially robust, growing by 9 percent last year, as employment surged for special trade contractors like plumbers, electricians and masons. It reflects remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling jobs and earthquake repairs rather than new construction projects, he said. In Ventura County, the unemployment rate fell to 6.4 percent in December, down a full percent from the year-ago period. It averaged 7.1 percent for the entire year, down slightly from 7.4 percent in 1995. Retail trade and agriculture get the credit for the improvement, said EDD Noun 1. EdD - a doctor's degree in education DEd, Doctor of Education doctor's degree, doctorate - one of the highest earned academic degrees conferred by a university analyst Doug Perron Per´ron n. 1. (Arch.) An out-of-door flight of steps, as in a garden, leading to a terrace or to an upper story; - usually applied to mediævel or later structures of some architectural pretensions. . Statewide, seven industry divisions added jobs last year. They were construction, manufacturing, transportation and public utilities, wholesale and retail trade, services, and government. The service sector was the biggest gainer, adding 161,000 jobs over the year for a growth rate of 4.2 percent. Last year's growth was the best since the state added 420,000 in 1988. ``It's an optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op report,'' said Ted Gibson, chief economist for the California Department of Finance The California Department of Finance is located in Sacramento, California. It is responsible resource allocation for the state’s annual financial plan. As part of the executive branch of the state, it is within the fold of the governor of California's administration. . ``We can conclude that aerospace has turned the corner, finally.'' Gov. Pete Wilson For others named Pete Wilson, see . Peter Barton Wilson (born August 23, 1933) is an American Republican politician from California. Wilson served as the thirty-sixth Governor of California (1991–1999), the culmination of more than three decades in the public arena that , who is in Asia on a trade mission designed to bring more business to the state, projects a gain of about 330,000 new jobs this year. And some of them should come from the Far East, he said during a telephone interview. ``There is a considerable amount of interest (here) in being an investor in California,'' Wilson said. CAPTION(S): Chart Chart: JOBLESS RATE |
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