California lost 222 big employers in 4 years, No. 3 drop in the US

The number of big California employers – defined by yours truly as bosses with 100 or more workers – dropped by 222 in the four years ended March 2023.

Nationwide, the number of big employers grew by 2,076 in 2019-23. The largest gains were found in Texas, up 1,505, Florida , Arizona , North Carolina , and Georgia . In California, these bosses represent only 1.2% of all workplaces. Yet they control 41% of all jobs statewide, were responsible for 52% of 2019-23 job creation, and pay 56% of total wages.

However, California’s 2019-23 dip in its count of big workplaces doesn’t mean the state isn’t well-stocked with significant employers. Note that there were 21 states that saw job losses at big employers in 2019-23, topped by Michigan, off 38,900, Minnesota, down 36,900, Connecticut, down 26,900, Pennsylvania, down 26,800, and Louisiana, down 26,700.California workers at big companies averaged annualized wages of $123,400 as of 2023’s first quarter – that’s up 21% in four years and 61% above the nation’s average $76,800.

In California, these jobs came with average wages of $160,700 annually in 2023, which is 37% more than the $117,600 wages at similar shops across the U.S.

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