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Friday, Jun 24, 2022
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L.A. Economy Adds Jobs

The city of Los Angeles added more than 30,000 jobs in February, dropping the unemployment rate by more than a point from the 11.4 percent of a year earlier, according to state figures released Friday. Still, the local unemployment rate remains higher than the 9.6 percent February statewide average – and well above the national 7.7 percent rate, according to the state Employment Development Department figures. Other cities in the greater San Fernando Valley region with higher unemployment than the state average included Lancaster at 14.5 percent, Palmdale at 12.8 percent and San Fernando at 10.5 percent. Those with the lowest were Agoura Hills at 4.5 percent and Calabasas at 4.7 percent. Countywide, 39,000 jobs were added, with the unemployment rate dropping to 10.3 percent from 11.4 percent a year earlier. The industry in the county showing the biggest gains were professional and business services, which added 25,300 jobs. The leisure and hospitality sector gained 21,000 jobs. Government payrolls posted the biggest loss, down by nearly 10,000 jobs.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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