California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + Los Angeles  + Office  | 
California Workforce Expands, but Labor Supply Constraints Continue

California Workforce Expands, but Labor Supply Constraints Continue

The Beacon Employment Report has been released and it shows that even as the Golden State’s labor market continued to expand at a steady pace in April, labor supply continued to throttle job growth. California has recovered just 91% of the jobs that were lost at the onset of the pandemic and there are 240,000 fewer people working in the state.

The report, issued jointly with the UCR School of Business Center for Economic Forecasting and Development, indicates April’s total nonfarm employment grew by 41,000 in April, compared to a revised 74,000 in March. However, compared to March of 2020, California employment has contracted 1.4%, compared to 0.8% nationally.

“Labor supply remains the biggest constraint to job growth in the state,” said Beacon’s Taner Osman in a news release. “And as employers seek to ramp up employment during the seasonally strong summer months, worker scarcity will continue to place upward pressure on wages.”

Connect

Inside The Story

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Economy