Here's a review of California's 2022 industry trends and revenues
- Jan 26, 2023
- 2 min read
By ONME Newswire
In 2022, the state of California had a population of 39,139,204, having declined an annualized -0.1% over the five years to 2022, which ranks it 45th out of all 50 US states by growth rate.
The counties with the highest populations in California are Los Angeles County, San Diego County and Orange County, which had populations of 9,844,734, 3,340,799 and 3,163,597 people in 2022.
In 2022, California's gross state product (GSP) in 2022 reached $2.9tn, with growth of 2.9% over the 5 years to 2022. Businesses in California employed a total of 21,155,273 people in 2022, with average annual employment growth over the past five years of 0.7%. The top three sectors by total employment are Information, Manufacturing, Real Estate and Rental and Leasing, while the unemployment rate across the state in 2022 was 4.3%.
What are California's Largest Industries by Revenue?
The largest industries by revenue in California are E-Commerce & Online Auctions, Drug, Cosmetic & Toiletry Wholesaling and Hospitals, which generated $189.9b, $186.6b and $178.5b in 2022.
Top 10 Companies Headquartered in California by Employment
The largest companies by employment in California are Amazon.Com, Inc., United States Postal Service and The Home Depot, Inc., which employed 170,000, 63,469 and 54,159 people in 2022.
California Sector Statistics
In California, certain sectors drive a higher share of state GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
The Information, Manufacturing and Real Estate and Rental and Leasing sectors contributed the most to California's GDP in 2022, representing a combined 44.5% of state GDP. GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the state's economy, in addition to how the state economy is evolving over time.
The Healthcare and Social Assistance, Retail Trade and Administration, Business Support and Waste Management Services sectors contributed the most to employment in California in 2022, representing a combined 35.3% of state employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the state economy as a whole.
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