California’s economy continued to expand at a moderate pace in February. The jobless rate last month was five point eight per cent of the state workforce, unchanged from January. State chief economist Howard Roth says if job growth continues at February’s pace, the state could add well over three hundred thousand jobs in 2005.
"That would be a very good year, and we’d have to revise our forecast up if we continue to get 27 thousand jobs a month. That was about our share of the jobs in the nation in February."
Construction was the strongest sector last month, with almost eleven thousand jobs created. But the state continued to drain manufacturing jobs, losing 23 hundred last month. A survey of California households indicated that more than 16 point seven million people had jobs in February, a gain of 370 thousand from a year ago.