Blue Green Line in Header
 

 
 

August 17, 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 JOB GROWTH RAMPS UP AGAIN 

Substantial gains in July and a revision of June’s low numbers have pushed California’s rate of job growth above the nation’s, according to an analysis released jointly by Beacon Economics and the UCR School of Business Center for Economic Forecasting and Development. The state added 46,700 jobs in July, the latest numbers from the California Employment Development Department. In addition, June’s numbers were revised upward, increasing from a paltry 800 jobs in the preliminary release to 21,500 jobs in the latest estimates. These gains have helped push the state’s job growth rate to 2.0%, just ahead of the nation overall (1.6%).

California’s unemployment rate held steady at 4.2% in July. However, labor force growth continues to disappoint. From July 2017 to July 2018, the state’s labor force expanded by just 16,900 (0.1%). This tepid pace of growth is making it difficult for employers to attract the talent they need to grow their businesses and will make it difficult for California to sustain the growth levels it has enjoyed in recent years.

"The July numbers and June revision show that the statewide economy and its industries remain on a steady course,” said Robert Kleinhenz, Executive Director of Research at Beacon Economics and the UCR Center for Forecasting. “In yearly terms, overall job gains from January through July of this year were marginally less than during the same seven-month period a year earlier, with nearly every industry in the state contributing to those gains. The ongoing concern is that statewide growth is hemmed in by paltry increases in the labor force."

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


August 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