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November 16, 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

STRONG GAINS FOR CALIFORNIA JOB GROWTH 

Nonfarm job growth in California was robust in October, with the state adding 36,400 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. This is well above the 22,000 average monthly gain during the first nine months of 2018 and helps to keep year-over-year gains in the state (1.8%) above national growth levels (1.7%).

California’s unemployment rate remained steady at 4.1% in October, maintaining its historic low. And despite a strong month for labor force growth (56,200), it continues to be a lackluster year with the state’s workforce growing by just 0.2% from October 2017 to October 2018.

"California remains on track for a good year, especially if you look at the yearly changes,” said Robert Kleinhenz, Executive Director of Research at Beacon Economics and the UCR Center for Forecasting. “However, the impact of the tragic November fires on the state and local employment picture will likely show up in subsequent months, and may dampen job growth temporarily in parts of the state."

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


November 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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