The U.S. unemployment rate was unchanged in February at 4.1 percent, while the nation’s employers added 313,000 nonfarm payroll jobs.
In February 2017, the state’s unemployment rate was 5.1 percent. The unemployment rate is derived from a federal survey of 5,100 California households.
Nonfarm payroll jobs in California totaled 17,065,800 in February, according to a survey of businesses that is larger and less variable statistically. The survey of 71,000 California businesses measures jobs in the economy. The year-over change, February 2017 to February 2018, shows an increase of 383,600 jobs (up 2.3 percent).
EMPLOYMENT AND UNEMPLOYMENT IN CALIFORNIA
The federal household survey, done with a smaller sample than the survey of employers, shows an increase in the number of employed Californians over the month and the year. It estimates the number of Californians holding jobs in February was 18,550,000, an increase of 13,000 from January, and up 322,000 from the employment total in February of last year.
The number of unemployed Californians was 843,000 in February – down by 9,000 over the month, and down by 143,000 compared with February of last year.
PAYROLL EMPLOYMENT DETAIL (SEASONALLY ADJUSTED)
EDD’s payroll employment report (wage and salary jobs) in the nonfarm industries of California totaled 17,065,800 in February, a net gain of 14,000 jobs from January. This followed a revised gain of 48,900 jobs in January.
Month-over Job Gains
Six of California’s eleven industry sectors added a total of 23,500 jobs in February. Professional and business services posted the largest increase with a gain of 8,300 jobs, followed by construction up 6,800 and manufacturing up 3,500. Other industry sectors adding jobs over the month were educational and health services (2,800), leisure & hospitality (2,000), and financial activities (100).
Month-over Job Losses
Five industry sectors reported job declines over the month, down a total of 9,500 jobs. Trade, transportation & utilities posted the largest decrease over the month, down 3,100 jobs, followed by other services, down 2,800, government, down 2,500 information, down 1,000 and mining and logging, down 100 jobs.
Year-over Job Gains
In a year-over-year comparison (February 2017 to February 2018), nonfarm payroll employment in California increased by 383,600 jobs (a 2.3 percent increase).
Ten of California’s eleven industry sectors added a total of 385,700 jobs over the year. The largest job gains were in educational and health services, up 92,100 jobs (a 3.5 percent increase), construction, up 74,000 jobs (a 9.5 percent increase), professional and business services, up 61,600 (a 2.4 percent increase). Other sectors adding jobs over the year were leisure and hospitality, trade, transportation and utilities, government, manufacturing, financial activities, other services, and mining and logging.
Year-over Job Losses
Only one industry sector posted job declines over the year, information, down a total of 2,100 jobs.
UNEMPLOYMENT INSURANCE CLAIMS (NOT SEASONALLY ADJUSTED)
In related data, the EDD reported that there were 396,030 people receiving regular Unemployment Insurance benefits during the February survey week. This compares with 342,480 in January and 405,196 in February of last year. At the same time, new claims for Unemployment Insurance were 31,291 in February, compared with 52,028 in January and 43,499 in February of last year.
Source: EDD
