California Forced to Admit to No Jobs Growth in 2023
Written by Chriss Street
The State of California has been forced to admit that their reported 117,000 payroll job growth for the period of September 2023 through December 2023, was just revised down to a net -32,000 job decline. As a result, California job growth for 2023 was just revised down to “essentially no net job growth (+9,000 jobs overall).”
The California Employment Sample (CES) polls a sample of businesses across the state each month to estimate statewide jobs growth. The U.S. Bureau of Labor Statistics (BLS) does benchmark revisions each year that update the monthly CES estimates to match the more reliable states Unemployment Insurance hard data.
The CES estimated that for 2023, California average monthly payroll jobs growth was 25,900, for a yearly gain of 311,000, or +1.7%. The latest 2023 U.S. Bureau of Labor Statistics (BLS) benchmark revisions have slashed California’s actual net monthly payroll job growth to 750, for a benchmark net yearly gain of 9,000, or less than +.1%.
California’s latest CES monthly payroll jobs growth estimate was +47,300 for May 2024, the second highest in the nation and just 4,000 short of +51,000 jobs added in Texas.
The latest CES monthly estimates seems even less credible given that the latest CES reported unfilled job openings for March were down 74,000 from the month of February and down 434,000 from the post-pandemic job opening demand peak last May 2023.
Chriss,
I'm on the NCS QAP tax committee and I see most of the the taxes as punitive to only enslave the citizens and should be eliminated ASAP. I'm looking forward to having you advise our committee on taxes.
From what you have said in our Sun./Wed. call-ins, I expect NCS to be a very profitable state as a result of the energy resource development and not be dependent on the many taxes that are now imposed on citizens. 30% cut in taxes may be a good start for most taxes, but I would like to totally eliminate others.
Thank you, Bill Carlson-Assembly Santa Clara County rural.
PS: I enjoy reading your comments here on MTT.
Heads-up. Facebook keeps removing this post when I try to share it on different accounts.