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June 2014 economic and employment analysis report for Southern California

The June 2014 Regional Economic Analysis Profile report for Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties released by the State of California’s Employment Development Department (EDD) defines the top ten industry clusters that best focus on projected future employment demand and replacement for California’s workforce.

Economic and employment analysis for Southern California
Economic and employment analysis for Southern CaliforniaPhoto by Dave Sandford/Getty Images

This economic profile report features the hospitality and tourism industry as the top contender with the highest number of new jobs and replacement needs for employment followed by retail and health care services. Hospitality and tourism employs workers in restaurants, hotels and motels, casinos, museums and sightseeing transportation. This industry employs approximately 750,000 workers that accounts for 11.6 percent employment state-wide according to EDD’s 2012-2013 data.

Employers showing the highest number of job advertisements in hospitality and tourism during a 120-day period ending May 9 for 2013 and 2014 includes Marriott, 24-Hour Fitness, and Pizza Hut.

The retail industry as shown in this report is featured as the second top contender for new jobs and replacement openings. The retail industry is projected to represent three-fourths of the 359,000 projected job openings between 2010 and 2020 and accounts for 9.8 percent of employment state-wide according to EDD’s 2012-2013 data

The retail industry includes retail sales clerks, grocery clerks, customer service representatives, and automobile and pharmacy technicians with a median annual wage of $18,990 and $37,026 with a high school diploma or less. Those with supervisory experience within these occupations show a median annual salary of $39,666. Occupations requiring a bachelor degree or higher within the retail industry show pharmacists, sales managers, cost estimators and market research analysts/specialists with a median annual salaries ranging from $62,116 and $134,572.

Employers showing the highest number of job advertisements in the retail industry during a 120-day period ending May 7 for 2013 and 2014 include Sears, Lowe’s, Macy’s and Nordstrom.

The health care services industry is the third top contender for new jobs and replacement openings and includes 10 occupations that represent nearly half of the 276,000 total job openings projected between 2010 and 2020. Registered nurses, home health aides and medical secretaries show the highest number of job openings with a median annual salary ranging of $90,558 for nurses, $23,235 for home health aides and $35,881 for medical secretaries. Medical and health services managers, internists and physical therapists show the least number of job openings with median salaries ranging from $106,965 for managers, $183,568 for internists and $89,040 for therapists.

Employers showing the highest number of job advertisements in the health care services industry during a 120-day period ending May 16 for 2013 and 2014 include Kaiser Permanente, Dignity Health and Providence Health & Services. The health care services industry accounts for 10.2 percent of employment state-wide according to EDD’s 2012-2013 data.

The June unemployment rate for Los Angeles-Long Beach-Glendale Metropolitan division is showing a decline to 8.1 percent for June from 10.0 percent in June 2013 (percentages seasonally adjusted) based on the EDD, Labor Market Information Division of California.