Beacon Economics launches national employment database

MetroIntelligence partner Beacon Economics has just launched the first national database of its kind on key employment statistics. Here's how Beacon describes it:

This month we are pleased to introduce the newly expanded California and U.S. Employment Report from Beacon Economics. Our datasite now covers key employment statistics in all 50 states. For each state, breakdowns are available by major regions and industries. See instantly how retail trade employment is doing in Colorado... find out which region of New York has the largest number of jobs... see how Florida's unemployment rate has changed over the past 6 months, year, or 3 years. Explore the detailed data available and gain new perspective on the nation's employment landscape.

I think this a great and easy-to-use service (and best of all: it's free!).

Check it out by clicking here.

So what do the folks at Beacon think about California?

Last month, Beacon Economics wrote in this employment report that the decline in California's unemployment rate in April was likely a statistical blip. This month's numbers confirm that suspicion.

• Unemployment Hits Record High: On a seasonally adjusted basis, the state's unemployment rate hit 11.5% in May - the highest on record since these statistics have been reliably tracked. The number of people classified as unemployed in the state shot up to 2,138,000 from 2,065,477 in April.

• State Employment Falls Back to '03 Levels: Total nonfarm employment in California dropped another 68.9 thousand in May. This 0.5% decline pushes employment in California back down to 2003 levels.

• No Turnaround This Year: Despite the fact that we have seen positive indicators in other sectors of the economy, including equity markets and home sales, employment is typically a lagging indicator. We do not expect employment in California to show any turnaround this year