Town Square

Job growth stronger than previously thought

Original post made by stephen levy, University South, on Sep 27, 2013

Yesterday the Bureau of Labor Statistics released final job estimates for the year ending March 2013. These data will be used next year to revise the preliminary published estimates of job growth (the ones we see in the papers each month) for California and the Bay Area for 2012 and 2013.

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Posted by Mr Mills
a resident of Nixon School
on Sep 27, 2013 at 10:36 am

Mr Levy: both Texas and CA had 3% growth. As the two largest states mentioned, I'm interested in the difference between the jobs created. Any more info that will shed light on that?

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Posted by stephen levy
a resident of University South
on Sep 28, 2013 at 5:50 pm

stephen levy is a registered user.

There is actually not that much difference. Texas had more job growth in mining and manufacturing while California had more job growth in construction.

Both state had substantial job growth in health care and hospitality where restaurants are counted.

California had nearly twice as many new jobs in professional and business services. California job growth was constrained by a loss in government jobs.

The main points I was making are 1) For this year the CA economy showed good job growth and the Bay Area posted even stronger job gains.

In the regional debate about future housing growth, some parties have argued that too much housing is anticipated as Bay Area job growth projections are too high. I am pointing out that so far the projected growth track is being exceeded and as unemployment drops further, the region should expect population growth pressures.

Even last year Santa Clara County posted the state's highest % population growth.