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Employment Gains Slow As Home Prices Continue To Climb

Summer 2017

California job creation has continued but has slowed. In May 2017, for the second month in a row, the pace of job gains in the state lagged the broader nation. What is contributing to the slowdown in job growth? The overall economy continues to advance but the state is effectively at full employment with little slack in the labor market. Moreover, it appears that there are not enough qualified candidates to fill job openings in some industries. Meanwhile, as rents and home prices head north, California’s lower wage workers simply cannot afford to live here, adding more strain to an already tight labor market.

As more residential and commercial building projects have entered the pipeline, the state’s Construction sector has been a major contributor to the job growth that has occurred. In April 2017, that sector expanded 5.0%, year to year, from employment levels seen in April 2016. While the building boom in the Bay Area has...


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