California Adds 250,000 Fewer Mostly High-Pay Jobs Than Thought

California’s high-paying industries created far fewer jobs than previously thought, as a sharp downward revision cut the number of positions in professional services, finance and information by about 250,000 compared with initial reports.

The state added only 50,000 jobs overall in the 12 months through September 2023, a stark contrast to the 300,000 jobs originally thought to have been created, the state’s Legislative Analyst’s Office said in a report, citing data from the Bureau of Labor Statistics.