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July 20, 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

DISAPPOINTING JOB GAINS IN LATEST NUMBERS AS STATE LABOR FORCE DECLINES 

In the latest numbers (June) from the California Employment Development Department, the state added just 800 jobs, according to an analysis released jointly by Beacon Economics and the UCR School of Business Center for Economic Forecasting and Development. This comes off a somewhat disappointing upward revision to the May numbers, which went from 5,500 to 7,200 jobs added. From a year-over-year perspective, however, California’s employment remains steady. From June 2017 to June 2018, the state has increased payrolls by 1.6% (269,100 positions), matching the pace in the nation overall.

California’s job market remains tight, with the unemployment rate holding steady at 4.2% in June, as the state’s labor force declined for the third straight month. Employers are finding it increasingly difficult to attract the talent they need to grow their businesses. From June 2017 to June 2018, California’s labor force expanded by just 0.2%, significantly lower than the level needed to sustain the growth enjoyed in recent years.

"As anticipated, labor force constraints are increasingly putting the pinch on job growth in California,” said Robert Kleinhenz, Executive Director of Research at Beacon Economics and the UCR Center for Forecasting. “At 1.6%, yearly job growth in June of this year was considerably lower than the 2.4% growth rate of a year ago."

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


July 2018 Report

 

 

 

 

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For more information, please view our research and analytics page or contact:

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