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Los Angeles
Sunday, Sep 24, 2023

Unemployment Rate Falls to 4.8 Percent

L.A. County’s unemployment rate fell to 4.8 percent in June, the lowest it’s been since January 2007, according to figures released Friday. In May, the seasonally adjusted rate was 4.9 percent.

The figures from the state’s Employment Development Department showed the county’s unemployment rate declining amid a strengthening labor force, which saw an increase of 11,000 in June. Unemployment decreased by 1,000 to 243,000 while civilian employment increased by 13,000 to 4,790,000 since May.

Statewide, the unemployment rate ticked up to 5.4 percent from 5.2 percent in May, and the unemployment rate nationwide edged up to 4.9 percent – jumping above the county’s unemployment rate after hitting a low of 4.7 percent in May 2016.

Los Angeles County employment growth picked up its pace from recent months, adding 122,500 jobs year-over-year to mark a 2.9 percent increase since June 2015 – well above previous months’ figures in the 1.8 percent to 2 percent range.

Population-driven employment gains were greatest year-over-year in the educational and health services sector; health care and social assistance added 27,100 jobs, and educational services added 14,900. On the monthly front, however, the sector posted the month’s largest decline, down 8,500 to 769,100 jobs.

Nine of 11 industries expanded over the year, including professional and business services, which increased by 19,500; and trade, transportation, and utilities, which saw an increase of 15,200.

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