Beacon Economics

January 19, 2024

Beacon Employment Report | California

Presented by Beacon Economics

Copyright © Beacon Economics LLC

REGIONAL OVERVIEW

SOUTHERN CALIFORNIA
SAN FRANCISCO BAY AREA
CENTRAL VALLEY

Regionally, job gains were led by Southern California. The Los Angeles County (MD) saw the largest increase, where payrolls grew by 17,800 (04%) during the month. Orange County (6,800 or 0.4%), the Inland Empire (6,400 or 0.4%), San Diego (5,500 or 0.3%), Ventura (500 or 0.2%), and El Centro (200 or 0.3%) also saw their payrolls jump. Over the past year, Ventura (2.6%) experienced the fastest job growth in the region, followed by Orange County (2.1%), Los Angeles (MD) (2.1%), the Inland Empire (1.9%), El Centro (1.9%), and San Diego (1.5%).

In the Bay Area, San Francisco (MD) (6,500 or 0.5%) had the largest increase during the month. San Jose (3,000 or 0.3%), Napa (400 or 0.5%, Santa Rosa (400 or 0.2%), and San Rafael (MD) (200 or 0.2%) also saw payrolls expand. Over the past 12 months, Santa Rosa (2.9%) has enjoyed the fastest job growth in the region, followed by San Rafael (MD) (2.4%), the East Bay (1.9%), San Francisco (MD) (1.3%), Vallejo (1.3%), San Jose (1.1%), and Napa (0.8%).

In the Central Valley, Sacramento experienced the largest monthly increase as payrolls expanded by 2,400 (0.2%) positions in December. Payrolls in Fresno (1,500 or 0.4%), Merced (600 or 0.9%), Modesto (600 or 0.3%), Madera (300 or 0.7%), Redding (200 or 0.3%), and Yuba (200 or 0.4%) also saw their payrolls jump during the month. Over the past year, Sacramento (2.8%) enjoyed the fastest growth, followed by Yuba (2.7%), Modesto (2.7%), Hanford (2.4%), Fresno (2.2%), Visalia (1.9%), Bakersfield (1.1%), Stockton (0.6%), Madera (0.5%), Chico (0.3%), Merced (-0.3%), and Redding (-1.6%).

CENTRAL COAST

On California’s Central Coast, Santa Barbara (900 or 0.4%) added the largest number of jobs. Santa Cruz (500 or 0.5%) and San Luis Obispo (400 or 0.3%) also saw payrolls increase during the month. From December 2022 to December 2023, Salinas (4.61%) added jobs at the fastest rate, followed by Santa Barbara (3.4%), San Luis Obispo (2.7%), and Santa Cruz (2.4%).

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