California’s Unemployment Rate Hits Record Low

California’s unemployment rate fell to a new record low of 4.2 percent in April according to the latest report from the state Employment Development Department, with 39,300 jobs added during the month. California has now gained a total of 2,908,100 jobs since the economic expansion began in February 2010. Over the last year, there were 356,800 jobs added, a 2.1 percent increase. March’s previously reported decline was revised up by 5,400 new jobs. In the first four months of 2018, 98,400 jobs were added in the state, compared with 104,000 jobs created during the same period last year. While California employers added fewer jobs this year, 2018’s increase is still robust considering the historically low unemployment rate.