Blue Green Line in Header
 

 
 

January 18, 2019

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 ENDS 2018 WITH ROBUST JOB GAINS; 2019 LOOKING STRONG 

California capped out 2018 with another solid month of employment gains, according to an analysis released jointly by Beacon Economics and the UCR School of Business Center for Economic Forecasting and Development. The state increased payrolls by 24,500 jobs in the latest numbers from the California Employment Development Department. These gains place California's year-over-year employment increase at 1.7%, just behind the national growth rate of 1.8%.

California’s unemployment rate inched up to 4.2% in December, a 0.1 percentage point increase over November. However, the driving force behind the increase was an uptick in the state’s labor force, which grew by 75,800 during the month. While labor force growth was slow from a year-over-year perspective earlier in 2018, stronger growth over the past several months has helped push year-over-year gains to 1.1%.

Note: There is often significant volatility in this data series, particularly during the months surrounding the upcoming March revisions by the EDD. Due to the volatility, Beacon and the UCR Center caution against reading too much into these figures.

“As expected, Federal tax cuts and increased government spending boosted the economy last year, but we were concerned that a tight labor market would limit growth,” said Robert Kleinhenz, Executive Director of Research at Beacon Economics and the UCR Center for Forecasting. “However, the year ahead looks good with this surge in the labor force in recent months, precipitated in part by sharp increases in earnings at year end.”

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


January 2019 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