The Mark Company Report March Job Growth Slows
May 23, 2017

California’s Unemployment Rate Drops to 16-Year Low

Although California’s April jobs report was somewhat of a disappointment, the number of unemployed residents has declined to the lowest rate since the dot-com era. Pacific Union Chief Economist Selma Hepp examines the latest state, Bay Area, and Southern California job numbers.

Executive Summary:

  • The April jobs report from the California Employment Development Department came as a disappointment following upwardly revised March numbers. Job numbers were mixed across the state, with San Francisco showing solid gains and Southern California registering losses. The state’s 16,300 job losses were largely concentrated in Los Angeles and Orange counties.
  • The state’s unemployment rate continued to decline to 4.8 percent, which is the lowest since February 2001. Further improvement in the unemployment rate was driven by a large increase in household employment, which measures the number of people who report being employed. The substantial increase in household employment suggests that April’s job numbers will be revised upward.
  • Sectors that added jobs in April include leisure and hospitality, construction, mining and logging, and educational and health services. Industries that lost jobs include professional and business services; trade, transportation, and utilities; manufacturing; information; financial activities; and government. On an annual basis, only three sectors posted job declines: manufacturing; information; and mining and logging.

 

To read the full analysis, click here: http://pacunion.us/2rK3SrS


About The Mark Company

The Mark Company is one of the nation’s premier urban residential marketing and sales firms. Founded by Alan Mark in 1997, The Mark Company provides a full range of core consulting services including analytics, design, marketing and sales for urban high-rises and suburban attached properties throughout the Western United States. The firm is a trusted partner to global leaders in residential development and finance, providing buyer-driven sales and marketing strategies that produce industry-leading results. The Mark Company has represented more than 10,000 residences and generated over $5 billion in sales for some of the nation’s most notable and successful developments including The Infinity in San Francisco, Evo in Los Angeles and The Martin in Las Vegas. Current projects include 181 Fremont Residences and The Austin in San Francisco and Cavalleri in Malibu. The Mark Company is a subsidiary of San Francisco-based Pacific Union International, the ninth largest residential real estate brokerage in the U.S. based on 2015 sales volume of $8.22 billion. Pacific Union merged with Los Angeles-based brokerage John Aaroe Group in December 2016. This strategic business collaboration links three of the strongest residential real estate firms on the West Coast, supporting combined 2016 production of $10.1 billion by 1,161 real estate professionals in 38 offices throughout California. The Mark Company benefits from an enriched leadership team, innovative technology and added global reach through its affiliation with Christie’s International. For more information, please visit www.themarkcompany.com.