Jobs Report: California sees largest monthly gain in two years

economic-straight-talk
  • According to the latest
    report from the state Employment Development Department
    , California added 46,000 jobs in April – the largest
    monthly gain since March 2017.
  • While monthly job additions have varied a lot
    since the beginning of the year, California led all states in the monthly
    increase. The state has added 271,600 jobs over the last year, which is a 1.6
    percent year-over-year increase – slightly behind the 1.8 percent overall
    national growth rate.
  • The state’s unemployment rate remained steady
    at 4.3 percent in April. Labor force declined, however, by 52,200 in April,
    after some solid increases in first three months of the year. Compared to a
    year ago, the labor force has increased by 203,900 people.
  • With 46,000 jobs added over the month, 9 out of
    11 industries added jobs in January, with largest gains in educational and
    health services, up 17,300 jobs, followed by leisure and hospitality, up 12,100
    jobs. Information and minting and logging posted monthly losses.
  • In annual comparison, 10 out of 11 industries
    added jobs with health services showing the largest gains, up 78,800 jobs,
    followed by professional and business services, up 66,900 jobs. Only financial
    activity posted an annual loss of 2,700.
  • Regionally, Los Angeles finally showed a rebound
    after a rocky start to 2019. Los Angeles County added 19,300 jobs over the
    month and 56,100 over the year. The region’s labor force, however, declined by
    20,000 which is not encouraging for hiring trends going forward. Nevertheless,
    monthly gains were largely focused in leisure and hospitality, with a larger
    than usual seasonal addition. Construction also saw above-average April gains
    bringing the sector’s employment to the highest level in more than a decade. On
    the annual basis, the health and wellbeing of an aging population continues to influence
    large gains. Job additions in healthcare and social assistance, up 18,800,
    accounted for ninety-two percent of the overall sector job growth to reach a
    new all-time high. On the other hand, losses were focused in financial
    services, particularly, finance and insurance, though apparel manufacturing was
    down as well.
  • In the Bay Area, gains were broad based across
    the regions and most regions saw unemployment rate decline again falling below
    the year-ago bottom. In San Francisco-San Mateo region, up 5,000 jobs, monthly
    gains were led by healthcare job additions, followed by leisure and
    hospitality, and solid gains in information.
  • In the Santa Clara-San Benito region, up 6,400
    jobs, gains were also led by leisure and hospitality, but also specialty trade
    contractors, and information. Computer and electronic product manufacturing
    posted 1,100 losses.
  • In Alameda and Contra Costa, up 6,800 jobs,
    similar trends followed with healthcare and social assistance leading the gains
    followed by leisure and hospitality.

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Shared with permission from the Pacific Union Blog