Who’s Hiring – or Not – in Southern California? August Employment Report Gives Clues – Daily News

Southern California CEOs created 132,500 jobs over the past year — a hiring pace that was 17% slower than before the pandemic.

My trusty spreadsheet, filled with state employment data, showed 7.97 million people working in Los Angeles, Orange, Riverside and San Bernardino counties in August. That’s up 1.7% over 12 months compared with a decline of 4,200 — or 0.1% — in the previous 12 months.

For an example of what the Fed is worried about — the economic concerns that led to this week’s interest-rate cut, its first in four years — compare those modest employment trends to 2015-19, when Southern California averaged 159,600 jobs per year, up 2.2%.

Today, the job market is decidedly cooler. Southern California gained 17,100 workers this month, mostly as teachers returned to schools after the summer break. But that gain from July to August is 51% below the average monthly hiring pace of 35,000 from 2015-19.

The four-county unemployment rate was 6.1% in August, the highest since October 2021. That’s up from 6% the previous month and up from 5.3% a year earlier. Unemployment averaged 4.7% before the pandemic.

Who is hiring?

Let’s take a look at key business sectors in Southern California and consider how the job market has changed over the course of one year…

Healthcare: 834,000 employees – an increase of 37,100 over the year. In August, an increase of 5,600 compared to July.

Government: 997,000 employees – an increase of 33,400 over the year. An increase of 19,900 in August.

Social assistance: 509,600 employees – an increase of 30,300 over the year. An increase of 4,200 in August.

Hotels/Entertainment/Recreation: 272,400 employees – an increase of 10,100 during the year. A decrease of 500 in August.

Private education: 196,300 employees – an increase of 8,000 during the year. A decrease of 4,000 in August.

Logistics-media: 808,700 employees – an increase of 7,100 over the year. A decrease of 100 in August.

Full-service dining options: 341,800 employees – an increase of 5,800 during the year. A decrease of 500 in August.

Retail: 734,200 employees – an increase of 3,600 during the year. An increase of 1,600 in August.

Construction: 380,100 employees – an increase of 3,300 during the year. An increase of 700 in August.

Fast food restaurants: 362,600 employees – an increase of 3,300 during the year. A decrease of 300 in August.

Information: 215,100 employees – an increase of 2,800 over the year. A decrease of 4,000 in August.

Financial: 360,600 employees – an increase of 1,900 during the year. A decrease of 400 in August.

Personal services: 266,000 employees – an increase of 900 over the year. A decrease of 2,300 in August.

Professional services: 1.13 million employees – down 200 over the year. Down 1,000 in August.

Production: 562,800 employees – down 10,000 over the year. Down 1,800 in August.

Where is recruitment?

Consider the varied number of jobs created in the region’s major metropolitan areas in August…

Los Angeles County: 4.57 million workers, after adding 78,100 during the year. An increase of 13,700 in the month compared with the August average of 21,700 employed in 2015-19. Unemployment? 6.7% in August, compared with 6.5% a month earlier; 5.3% a year ago; and 5.2% average in 2015-19.

Inland Empire: 1.7 million workers, after adding 33,600 during the year. An increase of 7,200 in a month compared with an average of 10,700 employed in 2015-19. Unemployment? 6% in August, compared with 5.9% a month earlier; 5.1% a year ago; and 5.2% average in 2015-19.

Orange County: 1.7 million workers, after adding 20,800 in a year. But that’s down 3,800 in a month from an average of 2,600 employed in 2015-19. Unemployment? 4.5% in August, compared with 4.4% a month earlier; 3.8% a year ago; and 3.6% average in 2015-19.

Jonathan Lansner is a business columnist for the Southern California News Group. He can be reached at [email protected]