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Study Sees Continuing Jobs Decline

Los Angeles Business Journal Staff

Driven by the state’s construction slump, California’s job market is weakening dramatically and will continue to worsen in coming months, says a survey released Monday by Chapman University.

Chapman’s statewide index of leading employment indicators plunged to 93.9 for the current third quarter, compared to 99.8 in the previous quarter and 113.9 a year ago. An index value below 100 signals negative payroll job growth.

The index has declined for nine consecutive quarters, with the last two coming in below 100. The primary driver has been the sharp drop in construction spending statewide, starting on the housing side and spreading to the commercial market.

The employment index is comprised of several variables, including real gross domestic product growth, exports, the value of the Standard & Poor’s 500 index and statewide construction spending. Rises in gross domestic product and exports have been more than offset in the third quarter by drops in the S&P 500 index and construction spending.


  February 8 - 14, 2010
LA Business News
Convention-al Appeal
New downtown hotels and a bustling L.A. Live scene are hailed as big convention business boosters.
Owner Back in the Saddle at Santa Anita Race Track
A deal with creditors will allow owner Frank Stronach to hold on to the reins of Santa Anita Park.
Unions Dropping Anchor in Long Beach?
The Port of Long Beach’s use of project labor agreements may maroon nonunion contractors.
Local Latinos Make Chinese Connection
A contingent of Latino officials from L.A. cities overcame culture clash on a recent trip to China.
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