The U.S. unemployment rate decreased in August to 6.1 percent. In August 2013, the unemployment rate was 8.9 percent. The unemployment rate is derived from a federal survey of 5,500 California households.
Nonfarm jobs in California totaled 15,539,600 in August, an increase of 44,200 jobs over the month, 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-year change, August 2013 to August 2014, shows an increase of 313,900 jobs (up 2.1 percent).
EMPLOYMENT AND UNEMPLOYMENT IN CALIFORNIA
The federal survey of households, done with a smaller sample than the survey of employers, shows an increase in the number of employed people. It estimates the number of Californians holding jobs in August was 17,224,000, an increase of 16,000 from July 2014, and up 292,000 from the employment total in August of last year. The number of people unemployed in California was 1,374,000 – up by 1,000 over the month, but down by 287,000 compared with August of last year.
PAYROLL EMPLOYMENT DETAIL (SEASONALLY ADJUSTED)
EDD’s report on payroll employment (wage and salary jobs) in the nonfarm industries of California totaled 15,539,600 in August, a net gain of 44,200 jobs since the July survey. This followed a gain of 31,500 jobs (as revised) in July.
Nine categories (mining and logging; construction; manufacturing; financial activities; professional and business services; educational and health services; leisure and hospitality; other services; and government) added jobs over the month, gaining 52,500 jobs. Construction posted the largest increase over the month, adding 13,600 jobs. Two categories (trade, transportation and utilities and information) reported job declines over the month, down 8,300 jobs. Trade, transportation and utilities posted the largest decrease over the month, down 8,000 jobs.
In a year-over-year comparison (August 2013 to August 2014), nonfarm payroll employment in California increased by 313,900 jobs (up 2.1 percent).
Nine categories (mining and logging; construction; trade, transportation and utilities; information; professional and business services; educational and health services; leisure and hospitality; other services; and government) posted job gains over the year, adding 322,800 jobs. Professional and business services posted the largest gains on a numerical basis, adding 93,000 jobs (up 4.0 percent). Construction posted the largest gains on a percentage basis, up 5.6 percent (adding 35,600 jobs).
Two categories (manufacturing and financial activities) posted job declines over the year, down 8,900 jobs. Financial activities posted the largest declines on both a numerical and percentage basis, down 7,400 jobs (a 0.9 percent decrease).
UNEMPLOYMENT INSURANCE CLAIMS (NOT SEASONALLY ADJUSTED)
In related data, the EDD reported that there were 411,005 people receiving regular Unemployment Insurance benefits during the August 2014 survey week. This compares with 426,224 last month and 465,922 last year. At the same time, new claims for Unemployment Insurance were 47,640 in August 2014, compared with 56,565 in July and 48,747 in August of last year.
