The U.S. unemployment rate decreased 0.1 percentage point in February to 4.7 percent, with employers nationwide adding 235,000 nonfarm payroll jobs.
In January, the state’s unemployment rate was 5.2 percent, and in February 2016, the unemployment rate was 5.6 percent. The unemployment rate is derived from a federal survey of 5,500 California households.
Nonfarm jobs in California totaled 16,676,100 in February, according to a survey of businesses that is larger and less variable statistically. The survey of 58,000 California businesses measures jobs in the economy. The year-over change, February 2016 to February 2017, shows an increase of 315,800 jobs (up 1.9 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 18,190,000, an increase of 14,000 from January, and up 254,000 from the employment total in February of last year.
The number of unemployed Californians was 966,000 in February – down by 22,000 over the month, and down by 102,000 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 16,676,100 in February, a net gain of 22,900 jobs from January. This followed a revised gain of 15,300 jobs in January.
Month-over Job Gains
Seven of California’s eleven industry sectors added a total of 30,800 jobs in February. Trade, transportation and utilities posted the largest jobs increase, with a gain of 11,100 jobs, followed by leisure and hospitality, with a gain of 5,600 jobs. Other sectors adding jobs over the month were construction; information; professional and business services; educational and health services; and other services.
Month-over Job Losses
Four industry sectors (mining and logging; manufacturing; financial activities; and government) reported job declines over the month, down a total of 7,900 jobs. Manufacturing posted the largest decrease over the month, down by 4,000 jobs, followed by financial activities, which fell by 2,200 jobs.
Year-over Job Gains
In a year-over-year comparison (February 2016 to February 2017), nonfarm payroll employment in California increased by 315,800 jobs (a 1.9 percent increase).
Nine of California’s eleven industry sectors added a total of 328,300 jobs year-over. The largest job gains were in educational and health services, up 89,100 jobs (a 3.6 percent increase), and leisure and hospitality, up 48,900 jobs (a 2.6 percent increase). Other sectors adding jobs over the year were construction; trade, transportation and utilities; information; financial activities; professional and business services; other services; and government.
Year-over Job Losses
Two industry sectors (mining and logging, and manufacturing) posted job declines over the year, down a total of 12,500 jobs. Manufacturing employment fell by 9,600 jobs (down 0.7 percent), while mining and logging was down by 2,900 jobs (an 11.2 percent decrease).
UNEMPLOYMENT INSURANCE CLAIMS (NOT SEASONALLY ADJUSTED)
In related data, the EDD reported that there were 405,196 people receiving regular Unemployment Insurance benefits during the February survey week. This compares with 386,875 in January and 388,417 in February of last year. At the same time, new claims for Unemployment Insurance were 43,499 in February, compared with 62,201 in January and 42,281 in February of last year.
Source: EDD
