December 20, 2024
Beacon Employment Report | California
Presented by Beacon Economics
Copyright © Beacon Economics LLC
INDUSTRY OVERVIEW
Health Care led growth over the last year, with payrolls expanding by 130,900 or 4.7%. Other sectors posting strong gains over the past year were Government (57,700 or 2.2%), Education (18,500 or 4.6%), Administrative Support (17,100 or 1.5%), Retail Trade (15,700 or 1.0%), Transportation, Warehousing, and Utilities (14,100 or 1.7%), Professional, Scientific, and Technical Services (11,600 or 0.8%), and Leisure and Hospitality (11,000 or 0.5%).
Manufacturing led declines over the last year, with payrolls falling by 42,800, a -3.2% decrease. Other sectors with notable declines over the last year were Information (-14,800 or -2.8%), Construction (-11,500 or -1.2%), Real Estate (1,200 or -0.4%), and Finance and Insurance (-1,100 or -0.2%).
At the industry level, growth was mixed this month, with some sectors adding positions while others saw layoffs. Health Care led the gains in November, with payrolls expanding by 11,400, an increase of 0.4% on a month-over-month basis. In addition, payrolls in Health Care are 16.4% above their pre-pandemic peak, the strongest growth among major industries over this period.
Other sectors posting strong gains during the month were Administrative Support (2,300 or 0.2%), Wholesale Trade (2,300 or 0.3%), Retail Trade (2,200 or 0.1%), Information (2,100 or 0.4%), Education (1,700 or 0.4%), and Transportation, Warehousing, and Utilities (1,200 or 0.1%).
Payrolls decreased in a handful of sectors in November. Other Services had the largest payroll declines this month, with payrolls falling by -3,300, a decline of -0.5% on a month-over-month basis. Other sectors posting significant declines during the month were Real Estate (-3,200 or -1.0%), Construction (-2,800 or -0.3%), and Finance and Insurance (1,200 or -0.2%).
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