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Economic Development

Why California?

Growing Labor Force and Employment

  • California added jobs at the fastest year-over pace in 11 years, the state is outperforming the nation and all but a handful of small states in job creation, and the upward trend seems likely to continue, according to the annual Labor Day Briefing from the state Employment Development Department (EDD).
  • California has added more than half a million nonfarm jobs in total since the recovery began in September 2009. Over the three months ending in July 2012, California gained 116,100 total nonfarm payroll jobs, for an average gain of 38,700 jobs per month, with the private sector growing even faster, gaining an average of 39,500 jobs per month. In fact, in the 12 months ending in July 2012, California’s private sector has shown its strongest year-over job growth since March 2001, gaining 365,000 jobs.

By Industry sector:

  • California has more high tech jobs than any other state with 931,000 people employed in high paying jobs. The next closest states are Texas with 492,000 and New York with 312,000.
  • California’s 2,323 biomedical companies employ 267,271people. This industry accounts for $115.4 billion in annual revenues – which is more than 18 state’s annual Gross State Product.
  • California’s 3.4 million small businesses account for 99% of the state’s employers and employ 52% of the workforce.
  • California is the No. 1 state for agriculture revenues, with $34.8 billion in revenue representing 12.3 percent of the U.S. total.

       — Courtesy of the Governor’s Office of Business and Economic Development

http://business.ca.gov/WhyCA.aspx

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