Overall unemployment rate moved up to 4.8% with the biggest shift in Restaurants & Hotels, which gained 15,700 roles, based on the most recently available information published in April 2023.
Total employment in the Los Angeles-Long Beach-Anaheim, CA market rose by 52,780 jobs in February and the unemployment rate increased compared to the prior month by 20 bps to 4.8%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Los Angeles-Long Beach-Anaheim, CA unemployment rate is 91 bps above the national rate which is a negative sign.
- Unemployment in the market is 20 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 3.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Education & Healthcare: 1,164,000; +14,300
- Transportation & Utilities: 1,097,500; -3,900
- Business Services: 1,013,400; +5,300
- Restaurants & Hotels: 751,700; +15,700
- Government: 740,900; +5,200
- Manufacturing: 474,100; -700
- Financial Services: 329,500; +2,000
- Construction, Mining: 253,400; +6,600
- IT & Development: 246,400; +4,100
- Other Jobs: 208,400; +3,800
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.