L.A. unemployment hits 8.9%

L.A. County's jobless rate for November is up from 8.3 percent the previous month - and 5.3 percent in November 2007. Statewide, the rate was 8.4 percent, up from 8.2 percent in October. The national rate is 6.7 percent. The state and local numbers are not great, of course, but they’re not a surprise. It’s a good bet that L.A. County will see 10 percent-plus unemployment sometime next year. As for the separate payroll survey, L.A. actually added 5,000 jobs from October, though the largest gains came from government and that's not a growth industry, given the huge budget deficits. Leisure and hospitality took a big hit. Between November 2007 and November 2008, L.A. had a loss of 20,400 jobs, but one industry that did quite well was entertainment, adding 14,300 jobs. Showbiz jobs can fluctuate a lot, but Hollywood still seems to be holding its own. Here's the EDD release.

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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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