August 20, 2018

California’s Job Market Picks Up Speed in July

Pacific Union Chief Economist Selma Hepp weighs in on the latest California, Bay Area, and Los Angeles job numbers.

 

  • Despite concerns over slowing employment growth, California added 46,700 jobs in July and revised June numbers to 21,500 new positions from an initially reported 800, according to the latest numbers from the state Employment Development Department.
  • With the summer’s pickup in job additions, California’s 2.0 percent employment growth is again trending above the national rate of 1.6 percent.
  • With the latest increase, California has added more than 332,000 jobs over the last 12 months, which is about 10,000 more than created during the previous 12-month period.
  • The state’s unemployment rate remained at 4.2 percent, as labor-force growth continued to hold back employers. Over the last year, the state’s labor force grew by only 16,900. The labor-force shortage will make it difficult for employers to expand their operations in California, and as a result, these businesses will move their operations to other parts of the country.

 

To read the full post, click here: https://pacunion.us/2N90kK0