Overall unemployment rate moved down to 4.0% with the biggest shift in Restaurants & Hotels, which gained 8,900 roles, based on the most recently available information published in June 2022.
Total employment in the Los Angeles-Long Beach-Anaheim, CA market rose by 471 jobs in May and the unemployment rate decreased compared to the prior month by 30 bps to 4.0%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Los Angeles-Long Beach-Anaheim, CA unemployment rate is 62 bps above the national rate which is a negative sign.
- Unemployment in the market is 470 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May 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 grew by 0.3% . Key sectors include:
- Education & Healthcare: 1,116,800; -1,200
- Transportation & Utilities: 1,089,500; +800
- Business Services: 980,100; -4,900
- Government: 734,100; +1,600
- Restaurants & Hotels: 718,900; +8,900
- Manufacturing: 473,200; +3,900
- Financial Services: 329,400; +3,800
- Construction, Mining: 261,400; +4,100
- IT & Development: 254,200; +1,300
- Other Jobs: 200,800; +1,200
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.