The headline numbers in today’s California employment report (12.5% unemployment and a 4,900 job gain) give a misleading reading of the improvements in the California economy during the pat two months. Job growth in November, originally reported 1,600, was revised upward to 30,500 based on gains in manufacturing, retail trade and services. And the job growth for December includes losses of 15,400 government jobs and additional losses of another 3,200 construction jobs.