California loses 70,600 financial jobs in 10 years, Texas gains 47,200

Russ Steele

The Sacramento Business Journal has the details in a story on the financial sector from 2001 to the present. Financial sector employment in 21 states has improved, while 29 states have fewer financial jobs than 10 years ago, with California at the bottom of the list.

California lost 70,6000 financial sector jobs in 10 years, according to an On Numbers analysis of new federal data. The second largest drop was in New York, with 64,400 jobs lost.

Texas is enjoying the sharpest upswing — its financial sector contained 622,900 jobs last month, which was 47,200 above the corresponding figure for April 2001.

North Carolina was second with a 10-year gain of 16,100 financial jobs. The only other states to post five-figure increases were Arizona (up 10,500 financial jobs in a decade) and South Carolina (up 10,000).

The Business Journal links to a data base with a state-by-state breakdown of the latest figures from the U.S. Bureau of Labor Statistics.

While the states Democrat leaders are claiming that California is recovering,  the numbers indicate the recovery is taking place else where.