California's Job Market Soars: Over 107,000 New Jobs Added in First Half of 2024

California Job Expansion Reaches 50th Consecutive Month

Breaking Now News - SACRAMENTO, CA, July 19, 2024 - Governor Gavin Newsom proudly announced today that California has added 22,500 jobs in June 2024, marking the 50th consecutive month of job expansion in the state.

In June alone, California saw the creation of 22,500 jobs, bringing the total number of jobs created since April 2020 to an impressive 3,122,500. The state's unemployment rate remained steady at 5.2 percent last month. California has added a total of 107,100 jobs in the first six months of 2024, more than double the number of jobs created during the same period last year. Seven out of the state's eleven industry sectors experienced job growth in the past month.

“California continues to lead the nation's economy and create good jobs throughout the state. Just this year, the state created over 107,000 jobs – more than doubling what we accomplished in the same time period last year.”

- Governor Gavin Newsom

California’s Economy by the Numbers

California stands out as the home to the most Fortune 500 companies, surpassing Texas, Florida, and all other states. The state's travel spending has reached an all-time high of $150.4 billion. Additionally, California leads the way in next-generation technology, with 35 of the world's top 50 AI companies based in the state. California also boasts high-impact research and education institutions, holding a quarter of the technology patents and conference papers globally.

• California has one of the most equitable tax systems in the country.
• It ranks #1 in the nation for new business starts, access to venture capital funding, manufacturing, high-tech, and agriculture.

What do you think?

• Is California's job expansion sustainable in the long term?
• How can other states replicate California's success in job creation?
• Should California invest more in specific industries to further boost its economy?