Blue Green Line in Header
 

 
 

May 18, 2018

Welcome to the Beacon Employment Report, a unique analysis of California's employment numbers and trends released by Beacon Economics and the UC Riverside School of Business Center for Economic Forecasting and Development. Each month, we link our 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 critical to revealing accurate trends and insights within data. The analysis is a sample of the kind of research available from Beacon Economics.

SUBSCRIBE
Receive the Beacon Employment Report by email  
more info

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

CALIFORNIA GAINS JOBS, UNEMPLOYMENT HITS RECORD LOW... AGAIN 

In the latest numbers from the California Employment Development Department, the state added nearly 40,000 jobs – and the losses that were reported last month have been revised upwards, according to an analysis released jointly by Beacon Economics and the UCR School of Business Center for Economic Forecasting and Development. California added 39,300 jobs in April and the initial job losses reported in March were revised from a 7,200 decline to a 5,400 gain.

With the revised counts and the latest gains, year-over-year job growth in the state now stands at 356,500 positions, or 2.1%, which is well above the pace of job growth in the nation overall (1.6%) from April 2017 to April 2018.

The state’s unemployment rate also fell to 4.2% in April, reaching another record low level. However, the decline was partly driven by a decrease in the state’s labor force during the month,  the fourth month-over-month decline in the last six months. Still, in year-over-year terms, the  labor force expanded by a modest 106,600 (+0.6%) in April, and Household Employment grew by 245,400 (+1.3%).

"Consistent with our forecast for faster national growth this year, job gains in California have tracked somewhat more quickly in the first four months of 2018 compared to 2017, pushing the unemployment rate into record-low territory,” said Robert Kleinhenz, Executive Director of Research at Beacon Economics and the UCR Center for Forecasting. “Looking across the state, most regions are seeing steady job gains. And while the largest absolute gains tend to be in the larger counties of the Bay Area and Southern California, it is noteworthy that 6 of the 10 metro areas with the fastest yearly percentage gains in April were in California’s Central Valley." 

Key Findings:

 

View the latest seasonally adjusted unemployment rates for:


 United States
 California
  icon

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


May 2018 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.

 
No Nonsense Economics blog feature image

Client Quotes

"Beacon Economics has become an invaluable resource to the Los Angeles Area Chamber of Commerce, providing us with data and research that informs our efforts to rebuild the region’s economy."
Gary Toebben, President & CEO, Los Angeles Area Chamber of Commerce

"Beacon Economics has substantially increased economic literacy here in Sonoma County."
Ben Stone, Director, Sonoma County Economic Development Board

"The professional and technically skilled staff at Beacon Economics delivered an excellent product that has been key to our District’s long term planning and fiscal health."
Dave Collins, Assistant General Manager, Finance and Management Services, East Bay Regional Park District