LA Biz Observed
 
Bio • Email • Archive
 

 

April's jobless rate was unchanged from the previous month and above the 4.8 percent rate in April 2006. California's rate jumped to 5.1 percent, while the U.S. was at 4.5 percent. The good other news is that L.A. County added 21,000 just 3,300 jobs in April, led by the leisure and hospitality segment (normal for this time of year as businesses gear up for the summer season). The category of "motion picture and sound recording" suffered a 5,700-job decline, which is pretty big. Of course, context is everything, and the real question behind all the numbers is whether the economy has entered a slump. By historic levels, a 5 percent jobless rate is really not bad for L.A., but it's been creeping upwards for several months, perhaps a reflection of the hit-and-miss housing market or runaway film production or lost manufacturing work. Or it could just be the business cycle that's showing its age after several pretty solid years.

> | More
© 2003-2011   •  About LA Observed  •  Email the editor
Mark's latest news
and commentary
 
 
LA Biz Observed
by topic
Economy and jobs
Media, books & Hollywood
Politics and labor
Travel, food and life
Technology
Land and real estate
Wealth and poverty
 
 
New at
LA Observed
 
2:25 PM Fri | Martin Gomez, the head librarian for Los Angeles since 2009, will become vice dean in the USC Libraries on April 2.