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April 19, 2024

Beacon Employment Report | California

Presented by Beacon Economics

Copyright © Beacon Economics LLC

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INDUSTRY OVERVIEW

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REGIONAL OVERVIEW

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  • At the industry level, gains were mixed. Health Care led the way in March, with payrolls expanding by 11,200, an increase of 0.4% on a month-over-month basis. With these gains Health Care payrolls are now 13.1% above their pre-pandemic peak.
  • Other sectors posting strong gains during the month were Government (6,400 or 0.2%), Administrative Support (5,300 or 0.5%), Construction (4,600 or 0.5%), Retail Trade (4,100 or 0.3%), Education (2,400 or 0.6%), Other Services (2,400 or 0.4%), and Finance and Insurance (1,000 or 0.2%).
  • Payrolls decreased a handful of sectors in March. Manufacturing saw the largest declines with payrolls falling by -5,300, a drop of -0.4% on a month-over-month basis.
  • Other sectors posting significant declines during the month were Wholesale Trade (-2,000 or -0.3%), Real Estate (-1,100 or -0.4%), and Information (-700 or -0.1).
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