Overall unemployment rate moved down to 4.0% with the biggest shift in Education & Healthcare, which gained 22,800 roles, based on the most recently available information published in December 2022.
Total employment in the Los Angeles-Long Beach-Anaheim, CA market declined by 40,887 jobs in October and the unemployment rate decreased compared to the prior month by 10 bps to 4.0%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Los Angeles-Long Beach-Anaheim, CA unemployment rate is 60 bps above the national rate which is a negative sign.
- Unemployment in the market is 250 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 5.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.3% . Key sectors include:
- Education & Healthcare: 1,159,500; +22,800
- Transportation & Utilities: 1,110,800; +9,600
- Business Services: 1,022,100; +16,300
- Restaurants & Hotels: 738,500; +7,400
- Government: 727,300; +13,400
- Manufacturing: 476,600; +800
- Financial Services: 328,400; +2,600
- Construction, Mining: 270,900; +3,000
- IT & Development: 261,900; +5,400
- Other Jobs: 206,700; +300
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.