California's Sustained Jobs Growth Continues
With sustained job gains California continues to outpace the nation in terms of year-over-year job growth, according to Beacon Economics’ analysis of today’s release from the California Employment Development Department (EDD).
California expanded its payrolls by 2.3% from July 2015 to July 2016, compared to just 1.7% growth in the nation overall. In the latest July numbers, California added 36,400 nonfarm positions, a number that is in line with the monthly 37,800 job gains the state has averaged over the past year.
Despite the job growth, California’s unemployment rate ticked up to 5.5% in July due to a sizeable increase in the state’s labor force, which expanded by 60,100 during the month. Household employment also grew over the period, growing by 35,500, but it was not enough to offset the surge in California’s labor force.
“California continues to lead the nation in job gains,” said Robert Kleinhenz, Executive Director of Economic Research at Beacon Economics. “The state added 374,600 jobs from July to July, the largest number of any state, however the yearly growth pace was the lowest in four years, at 2.3%. Still, the fundamentals of the statewide economy point toward continued gains through the rest of the year."
Tulare County’s employment levels mirrored the state average, increasing by 2.3% from July 2015 to July 2016, led by retail, manufacturing, and education and health industries. Download July Tulare County Employment Report here.
At 2016 Halfway Point, CA Jobs Growth Continues
Once again California added jobs and outpaced the nation in employment growth, according to Beacon Economics’ analysis of today’s release from the California Employment Development Department (EDD).
California added 40,300 nonfarm positions in June, building on an upward revision from May that added 25,700 jobs. At the halfway point of 2016 the state is averaging job gains of roughly 30,900 positions per month, a slight slow down from the 34,600 per month average observed during the first half of 2015. California also continues to outshine the nation in terms of job growth this year, with the state expanding payrolls by 2.9% compared to just 1.7% growth in the nation overall.
The unemployment rate in California ticked up to 5.4% on a seasonally adjusted basis in the latest numbers, following a trend in the nation as a whole. The driving force behind this uptick was two-fold. First, there was an increase (+24,200) in the state’s overall labor force and second, household employment declined slightly during the month (-3,200). In other words, the number of unemployed workers increased as more workers entered the work force.
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