Once again California added jobs and outpaced the nation in employment growth, according to Beacon Economics’ analysis of the latest numbers from the California Employment Development Department (EDD).
California added 15,200 jobs in May, building on the upwardly revised 70,000 jobs added in April, and marking a significant 10,400 jobs increase over the previously estimated April increase. In addition, California is continuing to outshine the nation overall, with nonfarm employment growing by 2.8% compared to just 1.7% in the United States.
The state’s unemployment rate fell to 5.2% on a seasonally adjusted basis last month. The driving force behind this decline was two-fold. First, more state residents found work during the month, with household employment expanding by 9,600 positions and second, the state’s labor force declined, falling by 9,700. However, due to the volatility associated with the small sample size used to derive these household numbers, the monthly decline in the state’s labor force should not be cause for concern.
At the industry level, growth was a mixed bag this month, with a handful of industries adding to their payrolls and another handful posting declines.
Tulare County Employment Continues to Grow
More than 3,000 new jobs have been added between May 2016 and 2015, with most industry sectors showing year over year growth. However, unemployment remains twice the state average at 10.5%, a 1.4% reduction over last year and dropping 0.6% from April.
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