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September 21, 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.

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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

CALIFORNIA JOB GROWTH CONTINUES 

California had another strong month of job growth, adding 44,800 positions in the latest numbers from the Economic Development Department (EDD), according to an analysis released jointly by Beacon Economics and the UCR School of Business Center for Economic Forecasting and Development. In year-over-year terms, from August 2017 to August 2018, California’s job growth rate (2.1% or 348,900 jobs) has outstripped the nations (1.6%).

The state’s unemployment rate remained unchanged in August, holding steady at a record low of 4.2% for the fifth month in a row. The unemployment rate has been under 5% consistently since May of last year. The state’s labor force grew by only 2,900 workers since July. In order for California to sustain its current level of growth, the labor force will need to expand at a faster rate.

"California’s monthly job gain in August was the largest of the states, even as its unemployment rate remains in record-low territory,” said Robert Kleinhenz, Executive Director of Research at Beacon Economics and the UCR Center for Forecasting. “The labor market continues to be quite dynamic. Because payroll jobs are being added faster than household employment, it appears that some of the payroll job growth is due to contract workers being hired as wage and salary employees. At some point, however, slow growth in the California labor force will impose an absolute limit on further job gains and economic growth."

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


September 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.

 
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