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Wednesday, Feb 21, 2024

L.A. County Unemployment Rate Dips to 4.4 Percent

L.A. County’s unemployment rate dipped to 4.4 percent in April after three straight months at 4.5 percent as local employers added a modest 5,000 jobs to their payrolls, according to state figures released Friday. The slight drop in the unemployment rate came as the number of Angelenos in the labor force dipped by a slight 1,000 to 5.141 million, according to the figures from the state Employment Development Department. The numbers of Angelenos who reported they were working in April and the number who reported they were unemployed also dropped by 1,000. All these figures suggest the county is near full employment, with very slight movement in the local labor force. The unemployment rate was below the 4.8 percent recorded in April 2017. The county recorded a net addition of 4,900 payroll jobs in April – fewer than the 13,000 reported in March – for a total of 4,481,700 jobs. Adjusted for seasonal factors, the gain was 6,400 jobs. Several sectors reported small gains, led by accommodation/food services (up 3,400 jobs), professional/scientific/technical services (up 2,600 jobs) and construction (up 2,500 jobs). The transportation/warehousing sector shed a net 1,500 jobs in April, with the volatile entertainment sector close behind with a drop of 1,300 jobs.

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