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CONTACT: Sherif Hanna
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Los Angeles Labor Market Tightens, Home Prices Escalate

Winter 2018

The latest data released from the California Employment Development Department show that Los Angeles County’s labor market continues to grow, albeit at a slower pace than in recent years. From October 2016 to October 2017, total nonfarm employment in the County increased by 0.9%, an addition of roughly 40,000 new jobs. This relatively slow rate of job growth is in line with a broader slowing trend that is occurring throughout California as labor markets remain extremely tight.

Employment in the state as a whole expanded by 1.5% during the past year. The upside is that tight employment conditions have helped push Los Angeles County’s unemployment rate down to 4.7%, as of October 2017, a 0.4 percentage point drop from one year earlier. This rate is slightly better than...

 



 

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