Despite rising prices that has put the squeeze on companies’ bottom lines, an index of California employment conditions released Tuesday shows the job picture remains strong, even nudging up slightly in the second quarter.
The California Employment Indicator Index from Chapman University rose slightly in the second quarter to 123.8, up from 122.5 in the first quarter and from 116.9 in the second quarter of 2005.
Chapman’s index takes stock of gross domestic product values, exports, state construction spending and the Standard & Poor’s 500. A reading over 100 generally points to future payroll job growth; the index has been over 100 for 11 consecutive quarters.
Payroll job growth in California is now averaging 1.8 percent year-over-year, ahead of the national average of 1.5 percent.
