March 22, 2024
Beacon Employment Report | California
Presented by Beacon Economics
Copyright © Beacon Economics LLC
REGIONAL OVERVIEW
In Southern California, Orange County experienced the largest increase, with payrolls growing by 3,100 (0.2%) during the month. The Inland Empire (800 jobs) and Ventura (300 or 0.1%) also saw payrolls jump during the month. Payrolls declined in Los Angeles (MD) (-3,600 or -0.1%), San Diego (-1,600 or -0.1%), and El Centro (-100 or -0.2%). Over the past year, El Centro (2.8%) has enjoyed the fastest job growth in the region, followed by Orange County (1.6%), Ventura (1.5%), the Inland Empire (1.3%), San Diego (0.7%), and Los Angeles (MD) (0.3%).
In the Bay Area, the San Rafael (MD) experienced the largest increase, with payrolls expanding by 200 (0.2%) positions in February. The East Bay (-2,400 or -0.2%), San Francisco (MD) (-1,000 or -0.1%), Napa (-500 or -0.7%), and Vallejo (-300 or -0.2%) all saw payrolls decline during the month. Over the past 12 months, Vallejo (2.4%) has enjoyed the fastest job growth in the region, followed by Napa (2.2%), Santa Rosa (1.9%), San Rafael (MD) (1.7%), the East Bay (0.9%), San Jose (-0.4%), and San Francisco (MD) (-1.2%).
Regionally, job gains were led by the Central Valley, with net payrolls unchanged. Sacramento experienced the largest monthly increase as payrolls expanded by 1,200 (0.1%) positions in February. Payrolls in Modesto (400 or 0.2%) and Chico (200 or 0.3%) increased as well. Bakersfield (-700 or -0.2%), Fresno (-400 or -0.1%), Stockton (-200 or -0.1%), Madera (-200 or -0.4%), Yuba (-100 or -0.2%), Visalia (-100 or -0.1%) and Hanford (-100 or -0.2%) all saw payrolls decline during the month. Over the past year, Madera (6.0%) has enjoyed the fastest growth, followed by Merced (4.4%), Yuba (3.4%), Modesto (3.1%), Hanford (2.6%), Redding (2.6%), Sacramento (2.5%), Stockton (2.4%), Visalia (2.3%), Fresno (1.9%), Bakersfield (1.5%), and Chico (1.4%).
On California’s Central Coast, San Luis Obispo (100 or 0.1%) added the largest number of jobs during the month. Santa Cruz (-200 or -0.2%), Salinas (-200 or -0.1%) and Santa Barbara (-100 or -0.1%) all experienced payroll declines during the month. From February 2023 to February 2024, Santa Cruz (1.1%) added jobs at the fastest rate, followed by Salinas (1.0%), San Luis Obispo (0.8%), and Santa Barbara (0.7%).
More
Information
For information about Beacon’s practice areas, please contact:
Managing Partner Sherif Hanna at 424.646.4656 or [email protected]