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March 24, 2017

Welcome to the Beacon Employment Report, a unique analysis of California's employment numbers and trends. Each month, Beacon Economics links its own econometric predictions to data released by the U.S. Bureau of Labor Statistics and the California Employment Development Department to identify important changes in employment across industries and regions. The Beacon Employment Report is also one of the few analyses that uses seasonally adjusted numbers. Click here to learn more about why seasonal adjustment is so critical in revealing accurate trends and insights within data. The analysis is a sample of the kind of research available from Beacon Economics.

Note About the Inland Empire: All employment and other data regarding the Inland Empire region of California (Riverside and San Bernardino Counties) is now housed at the UC Riverside School of Business Center for Economic Forecasting and Development. This includes a monthly employment report specifically focused on the region. Beacon Economics' researchers and other staff hold their same positions at the Center and are responsible for all analysis and products.

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The Beacon Employment Report represents only a sample of the custom, comprehensive forecasts and economic analysis available from Beacon Economics. Learn More

SLOWER PACE OF JOB GROWTH EXPECTED AS STATE HITS ‘FULL EMPLOYMENT’

The latest release from the California EDD shows that the state added jobs but saw year-over-year growth decline, according to an analysis released jointly by Beacon Economics and the UCR School of Business Center for Economic Forecasting and Development. Today’s EDD release indicates the state added 22,900 jobs in February, building on the upwardly revised 15,300 job gain in January.

Year-over-year growth declined to +1.9%, the lowest year-over-year growth since April 2012. However, this more modest pace of annual growth was expected given how far and long the current economic expansion has continued. Moreover, year-over-year gains in California are still outshining the nation overall, where employment grew by 1.6% year-over-year.

“Like the nation as a whole, California is essentially at full-employment,” said Robert Kleinhenz, Executive Director of Research at Beacon Economics and the Center for Forecasting. “It’s true we’ll see a somewhat slower pace of job growth compared to recent years, but the wage and income gains that accompany these added jobs will sustain economic growth as we move through the year.”

Key Findings:

 

View the latest seasonally adjusted unemployment rates for:


 United States
 California
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View seasonally adjusted industry employment data for California's
28 MSAs and MDs


March 2017 Report

 

 

 

 

Beacon Economics is a leading provider of economic and data analysis. Our research informs the financial and economic strategies of major hedge funds, industry, cities and counties, government agencies, and nonprofit organizations.

For more information, please view our research and analytics page or contact:

Director of Business Development Rick Smith at 858-997-1834 or Rick@BeaconEcon.com, or

Managing Partner Sherif Hanna at 310-571-3399 or Sherif@BeaconEcon.com.

 
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