Overall unemployment rate moved up to 5.7% with the biggest shift in Business Services, which lost 25,200 roles, based on the most recently available information published in March 2022.
Total employment in the Los Angeles-Long Beach-Anaheim, CA market rose by 363 jobs in January and the unemployment rate increased compared to the prior month by 10 bps to 5.7%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Los Angeles-Long Beach-Anaheim, CA unemployment rate is 127 bps above the national rate which is a negative sign.
- Unemployment in the market is 580 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 5.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.7%. Key sectors include:
- Education & Healthcare: 1,098,100; -5,900
- Transportation & Utilities: 1,091,400; -24,900
- Business Services: 959,600; -25,200
- Government: 720,900; -9,700
- Restaurants & Hotels: 663,100; -18,500
- Manufacturing: 461,500; -1,600
- Financial Services: 323,600; -3,200
- Construction, Mining: 250,000; -6,200
- IT & Development: 246,800; -5,600
- Other Jobs: 192,200; -3,400
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.