State and federal labor agencies released California's May 2016 jobs data on June 17, 2016. Seasonally-adjusted job growth in the state was estimated at 15,200 in May--a positive number, but well below the average monthly pace of job growth over the past year. This signals that overall job growth in the state may well be slower in 2016 than it was in 2015. The official unemployment rate in the state fell from 5.3% in April to 5.2% in May. Below, our standard monthly table shows job sectors in which California's 12-month growth rate is faster than the nation's (in green), is slower than the nation's but still positive (in black), or is negative (in red).
We provided several additional tables and facts concerning the May jobs report on Twitter @LAOEconTax:
- Over the past 12 months, California's 2.8% job growth rate ranks #8 among U.S. states.
- In May, most states had seasonally-adjusted job declines. Florida and California's combined job gains, in fact, equaled the reported nationwide job gain for May.
- According to preliminary Employment Development Department data posted on June 17, almost all California metropolitan regions had faster job growth than the nation as a whole over the past year.
- Unadjusted May California county jobless rates ranged from 2.6% in San Mateo County to 19.4% in Imperial County.
- Now at 5.2%, California's official unemployment rate's post-1975 low was 4.7% in December 2000.
- The broader U-6 unemployment measure for the state was up a bit in May, based on 12-month moving average data.
- Over the past year, California labor force participation rates are down for the 20-34 and 45-64 age groups. Overall, labor force participation in the state fell to 61.9%.
- Over the past year, the California Hispanic labor force participation rate is down more than that for other demographic groups in the state.
- Recent data shows a climb in California labor force non-participants who want work.
- In May, there was an uptick in the number of Californians working "part time for economic reasons." Full-time workers held steady at 81% of the employed total, based on 12-month averages.
The June jobs report will be released by the U.S. Bureau of Labor Statistics at 7 a.m., California time, on Friday, July 22. Due to the legislative recess, we may be delayed a few days in our online coverage of that report.
Follow @LAOEconTax on Twitter for regular California economy and tax updates.