Overall unemployment rate moved down to 4.6% with the biggest shift in Restaurants & Hotels, which gained 8,900 roles, based on the most recently available information published in May 2023.
Total employment in the Los Angeles-Long Beach-Anaheim, CA market rose by 7,877 jobs in March and the unemployment rate decreased compared to the prior month by 20 bps to 4.6%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Los Angeles-Long Beach-Anaheim, CA unemployment rate is 98 bps above the national rate which is a negative sign.
- Unemployment in the market is 10 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Education & Healthcare: 1,168,500; +4,000
- Transportation & Utilities: 1,096,500; -700
- Business Services: 1,010,500; -2,500
- Restaurants & Hotels: 761,400; +8,900
- Government: 748,300; +6,100
- Manufacturing: 476,000; +2,100
- Financial Services: 326,700; -2,700
- IT & Development: 254,500; +5,000
- Construction, Mining: 250,700; -1,200
- Other Jobs: 208,900; +100
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.