The Center for Jobs and the Economy has released our full analysis of the May Employment Report from the California Employment Development Department. For additional information and data about the California economy visit www.centerforjobs.org/ca.
After three months of losses and the 54,800 downgrade in December coming from the annual revision process, California posted a 17,700 nonfarm jobs gain in April. The 11,600 preliminary loss in March was revised to a loss of 6,800.
As detailed in our preliminary analysis of the February economic data, signs are pointing to continued weakness in the state economy
After three months of losses and the 54,800 downgrade in December coming from the annual revision process, California posted a 17,700 nonfarm jobs gain in April. The 11,600 preliminary loss in March was revised to a loss of 6,800.
As detailed in our preliminary analysis of the February economic data, signs are pointing to continued weakness in the state economy
In the preliminary numbers, seasonally adjusted nonfarm jobs fell 11,600 in March. The February numbers were revised from a preliminary result of a 7,500 loss to 21,800. The March number was the worst among the states and DC, with jobs led by Texas with a gain of 26,500 followed by Pennsylvania at 20,900 and Florida at 18,100.
As detailed in our preliminary analysis of the February economic data, signs are pointing to continued weakness in the state economy
In the preliminary numbers, seasonally adjusted nonfarm jobs fell 7,500 in February. The January numbers were revised from a preliminary result of no change in jobs to a loss of 21,400. The February number was the 49th highest among the states, with jobs led by Ohio with a gain of 23,100 followed by Texas with 25,600 and New Jersey at 19,200.
The January employment data incorporates the annual benchmark revisions, with changes to the wage and salary jobs data extending back in general to 2020 for the seasonally adjusted series and in some cases back to 1976. The labor force revisions extend back to 1976 as well. The Center’s data series have been updated with the new data for states and MSAs. The data for counties, regions, and legislative districts will be similarly revised after the data release later this month. In the short interim, comparisons between the January results for these sub-state regions and prior months should take into account the differences in the benchmark series.
Today’s release incorporates the first stage of the annual data benchmark revisions. Nonfarm jobs (seasonally adjusted) at the end of 2024 were reduced by 97,000. Incorporating the 2023 changes, total jobs gains in 2024 were revised from a preliminary gain of 180,500 to 153,700. Jobs growth by industry was dominated by Government and government-supported Healthcare & Social Assistance, which combined grew by 210,600 in 2024. Trade related Transportation, Warehousing & Utilities grew by 30,500, while jobs in all other private industries shrank by a net 87,400.
In a somewhat different format, our Full Jobs Report for December provides an overview of California’s economic performance in 2024. The data is presented in two series: (1) outcomes in the last 12 months (or 4 quarters where applicable) for California and (2) longer term results beginning with the pre-pandemic year of 2019. Each chart indicates the time period covered by the indicator, with complete 2024 data available in some instances and partial year results or even only 2023 results available in particular for some of the broader economic measures such as state GDP. In cases where the December monthly data used, the 2024 results are preliminary.
The December preliminary data again showed mixed results from the two core surveys. Nonfarm jobs (seasonally adjusted) rose 15,000 in December, while the November gains were lowered by 1,500 to 9,600. Employment (seasonally adjusted), in contrast, dipped by 3,100 from November, and by 13,800 for the year. Unemployment rose by 6,000 over the month, marking the 12th month in a row when the number of unemployed in the state was above 1 million.
The November numbers once again showed mixed results. Combined with an upward revision to the October numbers, nonfarm jobs showed moderate growth with a gain of 20,200 over the two months. Employment in contrast showed a total loss of 24,200 in this period, and a combined loss of 101,100 since the near-term high in May 2023.
California’s unemployment rate (seasonally adjusted) continued rising by 0.1 point to 5.4%, while the number of unemployed again was above 1 million for the 10th month in a row. The number of unemployed essentially matched the level previously seen in mid-2016 during the pre-pandemic period. California had the second highest rate among the states, behind Nevada at 5.7%. DC also came in at 5.7%.
The net domestic outflow was counterbalanced for the first time in 4 years by an uptick in the level of foreign in-migration. In total, net migration for the state was positive due to this factor, but low at only 45,508. The data, however, is not able to track the number of persons moving from California to other nations. Note that in the chart, the ACS data for 2020 is not statistically significant for this indicator. The point shown for Net Total Migration is taken from the Department of Finance estimates.
The October numbers continued to show relative weakness in the state economy. Nonfarm jobs (seasonally adjusted) dropped by 5,500 in the preliminary results. The results for September were revised down by 2,200 to a gain of 12,700. Over the past three months, nonfarm jobs have grown by only 6,000, compared to 74,200 in the same period in 2023.