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Education, Health Care Driving Job Gains
From January 2016 to January 2017, nonfarm payrolls in Los Angeles County grew by 1.9%, adding a total of over 84,500 new jobs. This steady increase puts Los Angeles employment growth on par with California’s as a whole (2.0%), but slightly behind other economic powerhouses in the state such as San Francisco and the Inland Empire, which grew 2.6% and 3.2%, respectively. Likewise, the unemployment rate in Los Angeles County dropped by about one percentage point, going from 5.8% to 4.9%, as nearly 44,000 more people entered the labor force.
Driving employment growth in the County was the Education/Health industry, which expanded by 4.7% or about 35,400 new jobs. The bulk of these jobs came from health care providers—something that should continue given broader demographic and population trends that include the aging of the huge baby boomer generation.
Sizeable growth also came from the Leisure and Hospitality industry, with 11,000 new jobs added—a 2.2% annual increase. This industry is tied directly to...