In a recent article published on December 21, 2018 by the Los Angeles times, it states that California's job market remains hot, despite economic uncertainty. The article goes on to say "California’s unemployment rate held steady at 4.1%, the same as in September and October, and the lowest rate in over four decades. A year ago, it stood at 4.5%.
“In years ahead, we’ll be looking back on 2018 as an extraordinary period in California employment,” said Michael Bernick, a former EDD director who specializes in workforce issues".
But meanwhile the Tech Sector and the Movie industry lost 4,500 jobs. With such a large tech industry in California and now in the South Bay area, if the trend continues this might indicate a start to a second .COM meltdown that was witnessed in 2001.
So while optimism in the job market continues to be high, keep your eyes on the technology sector, there are many companies that have announced an IPO to raise money. But the next 18-24 month cycle will be interesting to watch, the Technology companies and .COM's need to generate real revenue and profits if California will avoid a large loss of jobs and tax revenues. A negative impact in this sector will have a devastating ripple effect on all parts of the state.