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California's golden job market projected to continue growing in 2020

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Published  January 1, 2020 4:42pm PST
California
KTVU FOX 2

California job market sees lowest unemployment rate since 1976

The job marketplace has also expanded at its fastest pace since WWII. Tom Vacar reports.

OAKLAND, Calif. - Despite all the many criticisms California gets from many quarters, outside and inside, job seekers have far fewer problems finding work here than anywhere else in the nation.

Despite tariffs, overseas hostilities and political intrigue, when it comes to jobs, California remains the Golden State.

By any historical measurement, California's job market has been dynamite in recent years, especially 2019.

Attorney Michael Bernick is a 40 year veteran of labor law with the Duane-Morris Law Firm and a former Director of the EDD under Governor Jerry Brown.

But wait. There's more. 

"Since the new methodology was introduced in 1976, this is our lowest unemployment rate and we've also hit a record now of 119 months in terms of employment expansion," said Bernick.

That's the longest expansion since World War II, and a far cry from the bottom of the great recession eight years ago.

"We had unemployment rates in our Bay Area counties over 11% or 12%. Since the bottom of the bottom; which was February 2010 in [California], we've gained 3.5 million jobs, payroll jobs," said Bernick.

So, what about job prospects for 2020?

"Without some other major economic dislocation, job growth will continue in 2020. It will be slower than it has been in previous years," said Bernick.

But, warns Bernick, state and local governments have to be less hostile to small and medium sized businesses, especially entrepreneurial businesses, in terms of paperwork, regulation, taxes and costs.

"Even though in California we talk about job growth and talk about supporting businesses and talk about supporting mid-sized businesses, a lot of what we're doing is undermining that," said Bernick

Most left behind are people with disabilities, especially those with autism, who have severe problems getting steady jobs. But, businesses, state government and Uncle Sam face a lot of lobbying to remedy that situation with the economy so good.