Figuring out inconsistencies in U.S., California economies

Good luck on that. California's addition of almost 34,000 jobs came during the same month that the entire nation picked up just 69,000 jobs. Of course, all economies are local, which means that what's going on in Illinois or Florida is going to be different than what's going on in California. I raise some possible explanations with Steve Julian during this week's Business Update on KPCC. Available at kppc.org and on podcast (Business Update with Mark Lacter)

Several of the industries did especially well - leisure and hospitality, technology, the entertainment business - they all have a strong presence in California. Also, the state could be in kind of a catch-up mode from earlier in the year when the rest of the nation had been creating so many more jobs. It also could be just one of those fluky months. What does bear mentioning - and what's been hardly noticed by many analysts - is that job growth in the state has outpaced the nation over the past year.

Inconsistencies are bound to show up in any recovery, but they're especially prevalent in this one - perhaps because consumer attitudes are bouncing all over the place.

Julian: I feel like I'm watching the French Open.

Lacter: Well, consumer attitudes can change very quickly, depending on what the current snapshot happens to be - and that's not the kind of environment business owners like to see.

Julian: They want stability, they want predictability, right?

Lacter: That's right. Otherwise, why would you run the risk of expanding your business by hiring new workers? And this is part of the problem: people get worried these days as almost a reflex action.