How is the California job market doing? I have the latest numbers for you today.
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Looking to buy a Bay Area Home? Search all Bay Area homes for sale. Selling Your Bay Area Home? Use our home evaluation tool.
Today we’re looking at job growth and job decline here in California.
The latest numbers from the California Employment and Development Department states that California added a net of 9,700 new jobs in January of 2017. However, the total employment picture is a mixed bag. Although seven industries added 42,700 jobs, four other sectors lost 33,000 jobs.
On the bright side, California’s unemployment dropped from 5.7% in January of 2016 to 5.1%, which is actually a faster drop than the national average.
The latest numbers from the California Employment and Development Department states that California added a net of 9,700 new jobs in January of 2017. However, the total employment picture is a mixed bag. Although seven industries added 42,700 jobs, four other sectors lost 33,000 jobs.
On the bright side, California’s unemployment dropped from 5.7% in January of 2016 to 5.1%, which is actually a faster drop than the national average.
The tech sector is still a major player
in our regional job growth.
in our regional job growth.
According to Mercury News, the Bay Area specifically saw technology industry jobs throttle back to only 3.5%, as the industry only added 26,700 new jobs in all of 2016.
Even so, job growth in tech companies far outpaced the total job growth in the Bay Area last year, which was only 2.6%. That indicates that the tech sector is still a major player in our regional job growth.
As we look forward, there are concerns over how future immigration and trade policies will impact California. An economist from the University of California estimates that 2017 job growth will fall to 1.6%, and job growth overall is expected to slow down over the next few years.
Here in the Bay Area, our jobs are at full capacity. If you have any questions about our job market or about the real estate market, give me a call or send me an email. I would be happy to help you!
