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CONTACT: Sherif Hanna
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Fall 2018

Rolling into the third quarter of 2018, Los Angeles County’s total nonfarm employment experienced the slowest growth of all California’s major metro areas. However, this is undoubtedly due to a tight labor market and marginal increases in the local labor force. The job growth that is happening is being led by sectors such as Leisure and Hospitality, which continue to thrive. Additionally, the County’s unemployment rate has held steady in recent months at historic lows. In other news, building permit activity for commercial real estate in Los Angeles County has performed well over the past year, with permit values increasing by over 100% year-over-year. 

 

Slower Growth for LA Labor Market

Between August 2017 and August 2018, total nonfarm employment in Los Angeles County grew 1.4% to reach a total of 4.5 million jobs. The 64,400 jobs added over the year pushed the unemployment rate down from 4.8% to 4.5%. Comparatively, California’s unemployment rate fell from 4.6% to 4.2% over the same period.

Although Los Angeles County added more jobs in absolute terms, its annual employment growth was outpaced in percentage terms by the Inland Empire (3.5% or +51,000 jobs), which is currently...

 



 

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