Beacon Economics Report: California Not In Recovery – In Full Expansion

By:  |  Category: Blog Monday, August 17th, 2015  |  No Comments
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The following is excerpted, with permission, from the July 2015 Beacon Employment Report: California continues to outpace the nation in job creation. The state added 80,600 jobs in July – a major jump over the 23,600 jobs added in June and bringing the state’s two month average to just over 51,000 positions. Over the past year, non-farm jobs in California have expanded by 3.2%, compared to 2.1% growth in the nation overall.

California’s unemployment rate also declined – falling to 6.3% in the latest numbers. The number of employed residents in the state grew by 35,000 over the past month. At the same time, the state’s labor force expanded by 16,400, signaling that formerly discouraged workers have resumed job searches – borne out of increased confidence and optimism.

“These numbers are another strong showing for California – I hesitate to refer to this as a recovery any longer – this is now an expansion,” said Jordan Levine, Economist and Director of Economic Research at Beacon Economics. “Not only is California adding jobs across most of its industries and regions, but that growth is outpacing the nation and most other states in the nation.”

Key Points:
• The Administrative Support sector, which houses both temporary staffing agencies and business support services, led job gains in the most recent numbers, adding 8,600 positions.
• The Professional, Scientific, and Technical Services sector, home to many of California’s “high-tech” jobs, posted solid gains in June, adding 5,200 positions.
• California’s Manufacturing sector also posted job gains in June, adding 3,200 positions.

Read more here.

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