Newsom claims job growth, feds say state lost 156,300 jobs in first half of 2024
Story by Kenneth Schrupp • 13h
(The Center Square) - California lost 156,300 jobs in the first six months of 2024, according to new federal quarterly payroll data, contradicting California Gov. Gavin Newsom’s claims about job growth in the state.
Politicians nationwide often cite optimistic preliminary jobs survey data, which is often significantly revised downward once more accurate payroll information is finalized.
Adjusted California payroll data for June counted 17,881,600 jobs, while January counted 18,037,900 jobs, meaning the state lost 156,300 jobs in the first six months of 2024, the most recent time for which quarterly payroll data covering 95% of jobs is available.
The federal preliminary, sampled survey data cited by Newsom estimated 18,054,300 jobs in June, meaning the preliminary survey overestimated the number of jobs in California by 172,700.
https://www.msn.com/en-us/money/markets/newsom-claims-job-growth-feds-say-state-lost-156-300-jobs-in-first-half-of-2024/ar-AA1w2XYb?ocid=msedgdhp&pc=HCTS&cvid=f89e2e232b6f4bc1b3422b0b3e8d5534&ei=161
