August 21, 2017

California Creates the Most U.S. Jobs in July

Pacific Union Chief Economist Selma Hepp offers her perspective on the latest employment numbers.

  • July was an incredible month for job creation in California, and especially in the Bay Area. Following a volatile summer, the state saw a monstrous increase of 82,600 jobs in July, with 20,800 additions in the Bay Area. This was the largest monthly increase since April 2016. Year to date, the state has added 146,200 jobs this year compared with 225,800 during the same period last year.
  • Government, which is usually a cause of summer volatility in employment numbers, led the increase, with 18,800 jobs added, followed by educational and health services, up 18,600 jobs; and leisure and hospitality, up 15,200 jobs. Other sectors that added jobs in July were professional and business services; construction; information; other services; trade, transportation, and utilities; and financial activities. The manufacturing and mining and logging industries recorded losses.
  • The state’s job-creation trends have been consistent over the last year. Since July 2016, California has added 291,800 positions, with the largest gains in the construction (up 6.6 percent), educational and health services (up 2.9 percent), and leisure and hospitality (up 2.8 percent) sectors. Jobs in professional and business services and information have increased, but at a slower rate: 1.0 percent and 0.6 percent, respectively.

 

To read the full post, click here: http://pacunion.us/2iiUlHL


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 eighth-largest residential real estate brokerage in the U.S. based on 2016 sales volume of $10.15 billion. Pacific Union merged with Los Angeles-based brokerages John Aaroe Group in December 2016 and Partners Trust in August 2017. This strategic business collaboration links four of the strongest residential real estate firms on the West Coast, supporting combined 2016 production of $12.6 billion by 1,400 real estate professionals in 47 offices throughout California. For more information, please visit www.themarkcompany.com.