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April 21, 2017

Welcome to the Beacon Employment Report, a unique analysis of California's employment numbers and trends. Each month, Beacon Economics links its 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 so critical in revealing accurate trends and insights within data. The analysis is a sample of the kind of research available from Beacon Economics.

Note About the Inland Empire: All employment and other data regarding the Inland Empire region of California (Riverside and San Bernardino Counties) is now housed at the UC Riverside School of Business Center for Economic Forecasting and Development. This includes a monthly employment report specifically focused on the region. Beacon Economics' researchers and other staff hold their same positions at the Center and are responsible for all analysis and products.

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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

GOLDEN STATE JOB GROWTH CONTINUES TO LEAD NATION

The latest release from the California EDD shows that the state accounted for nearly one-fifth of all job gains in the nation in March, according to an analysis released jointly by Beacon Economics and the UCR School of Business Center for Economic Forecasting and Development. Today’s EDD release indicates that the state added 19,300 jobs in March, building on an upwardly revised 21,500 job gain in February. The United States as a whole added 98,000 jobs in March.

Year-over-year growth also increased to +2.1%, up from a five year low one month earlier. California led the nation in absolute job gains over the year, outpacing gains in Texas and Florida by nearly 100,000 jobs.

The state’s unemployment declined to 4.9% in the latest numbers month, the lowest rate since December 2006. This was driven by a 37,100 increase in household employment and slightly offset by a 12,100 increase in the state’s labor force.

“California’s overall unemployment rate continues to push lower, while parts of the state have rates that are lower than the 4.5% U.S. rate,” said Robert Kleinhenz, Executive Director of Research at Beacon Economics and the Center for Forecasting. “Job growth picked up a bit in March, both in monthly terms and yearly terms, which is good news. As for the regions and industries that saw job losses, upward revisions in the next couple of months will put the March numbers more in line with the overall trend.”

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


April 2017 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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