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Wednesday, Aug 17, 2022

Economic Forecast & Trends 2019: Los Angeles County Economy Averaged 5,000 Job Additions Per Month in 2018

If last year’s statistics are anything to go by, 2019 looks good in terms of increasing employment levels for Los Angeles county.

Civilian employment increased by 6,000 to 4,932,000 in December 2018. The civilian labor force increased by 10,000 over the month to 5,179,000 in December 2018. All of these figures are seasonally adjusted. The California seasonally adjusted unemployment rate was 4.2 percent in December 2018, 4.1 percent in November 2018, and 4.5 percent a year ago in December 2017. Between November 2018 and December 2018, total nonfarm employment in Los Angeles County increased by 7,300 jobs to reach 4,577,300.

Other year-end key employment statistics reported by the Labor Market Employment Division of the State of California’s Employment Development Department include:

• Of the seven sectors that gained over the month, trade, transportation and utilities led, adding 8,400 jobs with subsector gains in transportation and warehousing (up 3,600), retail trade (up 3,400), and wholesale trade (up 1,500).

• Educational and health services expanded by 4,600, gains were comprised entirely of health care and social services (up 4,700) and counterbalanced with a 100 job loss in educational services.

• Construction (down 4,200) declined the most of the four industry sectors that experienced employment decline. Over 70 percent of construction losses were found in specialty trade contractors (down 3,000).

• Motion picture and sound recording lost 3,500 jobs over the month, driving employment decline in the information sector (down 3,300). Between December 2017 and December 2018, nonfarm employment in Los Angeles County increased by 60,000 or 1.3 percent.

• Leisure and hospitality (up 24,400) led the eight industry sectors adding over the year. Accommodation and food services achieved record high employment (457,600), adding 16,600 jobs. Arts, entertainment and recreation also expanded, posting 7,800 job additions.

• Professional and business services rose by 16,400 with job increases in administrative and support and waste services (up 9,000), professional, scientific, and technical services (up 7,100), and management of companies and enterprises (up 300).

• Jobs in educational and health services increased by 15,500 over the year. Gains in health care and social assistance (up 16,200) drove up the sector employment levels, but a reduction of 700 jobs in educational services offset the overall gain.

• Government (down 3,200) had the greatest job loss among the declining sectors. Losses occurred at all three levels of government, local (down 2,500), federal (down 600), and state (down 100).

Information for this article was provided by the Labor Market Employment Division of the State of California’s Employment Development Department. Learn more at labormarketinfo.edd.ca.gov.

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