Overall unemployment rate moved up to 4.6% with the biggest shift in Transportation & Utilities, which lost 23,900 roles, based on the most recently available information published in March 2023.
Total employment in the Los Angeles-Long Beach-Anaheim, CA market rose by 4,257 jobs in January and the unemployment rate increased compared to the prior month by 70 bps to 4.6%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Los Angeles-Long Beach-Anaheim, CA unemployment rate is 74 bps above the national rate which is a negative sign.
- Unemployment in the market is 110 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 1.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.2%. Key sectors include:
- Education & Healthcare: 1,152,600; -4,900
- Transportation & Utilities: 1,105,900; -23,900
- Business Services: 1,013,000; -12,900
- Restaurants & Hotels: 741,700; -7,800
- Government: 735,200; +3,200
- Manufacturing: 477,900; -800
- Financial Services: 327,400; -6,100
- IT & Development: 247,600; -9,600
- Construction, Mining: 247,500; -10,100
- Other Jobs: 206,100; -3,600
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.