Overall unemployment rate moved down to 4.9% with the biggest shift in Restaurants & Hotels, which gained 15,800 roles, based on the most recently available information published in April 2022.
Total employment in the Los Angeles-Long Beach-Anaheim, CA market rose by 100,977 jobs in February and the unemployment rate decreased compared to the prior month by 80 bps to 4.9%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Los Angeles-Long Beach-Anaheim, CA unemployment rate is 76 bps above the national rate which is a negative sign.
- Unemployment in the market is 500 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 4.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.3% . Key sectors include:
- Education & Healthcare: 1,111,600; +13,300
- Transportation & Utilities: 1,091,600; +2,000
- Business Services: 974,600; +13,300
- Government: 728,400; +9,000
- Restaurants & Hotels: 682,600; +15,800
- Manufacturing: 466,300; +5,000
- Financial Services: 323,200; -500
- Construction, Mining: 258,600; +9,600
- IT & Development: 251,600; +7,500
- Other Jobs: 195,100; +3,600
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.