A continuing storyline of the California economy is the enormous job creation and job destruction that goes on below the surface of the monthly job numbers. Each month around 300,000 payroll jobs are destroyed, and an equal amount created, even as the monthly payroll job total moves only a little.
It’s been a few years since we last looked in detail at the data on job creation and destruction in our state. As the California economy continues to hum along (now with over 2 million payroll jobs gained since February 2010), it is time to revisit the job creation/destruction machine that is California.
As with we do with other data investigations, let’s bring in Brandon Hooker of the Labor Market Information Division of the state Employment Development Department. The chart above forwarded by Mr. Hooker (click to enlarge) tracks private sector job gains and losses by quarter, from the first quarter of 2005 to the second quarter of 2015, the latest quarter for which data are available. The data are from the Business Employment Dynamics (BED) series, which measures net changes in employment at the establishment level.
View Article