L.A. unemployment up a bit

The December jobless rate for Los Angeles County was 4.5 percent, up from the record-low of 4.2 percent the previous month. That's still lower than the state's 4.8 percent rate in December and even with the national rate. It's also way under the 5.5 percent level from 2005. Total nonfarm employment in L.A. rose by 10,900, with retail trade making up the brunt of that increase in payrolls. Looking at year-over-year levels, there was a loss of 6,200 manufacturing jobs, while the hospitality sector was up by 8,700 and professional and business services were up 8,500. You see the pattern: Lots more service-oriented work (often at low-wage rates), and lots less factory work (often at higher wages). What this report can't show are jobs within L.A.'s underground cash economy. Cash-only jobs are usually not the most desirable, but they are jobs, and they do fuel the area's economic engine. Information is from the state Employment Development Department.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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