Job growth in June a ‘good month’ for Southern California – Daily News

on Jul20
by | Comments Off on Job growth in June a ‘good month’ for Southern California – Daily News |

June was a solid month for Southern Californians seeking jobs, with growth accelerating across four counties, according to a state report released Friday.

There were 117,900 more people on payrolls last month in Los Angeles, Orange, San Bernardino and Riverside counties than there were in June 2018, the state Employment Development Department reported. Year-over-year growth for the region outpaced May, which saw an increase of 106,000 jobs.

Payrolls expanded by 30,800 jobs in the Inland Empire, with 2.1% growth — the region’s best. The job market grew by 63,000 jobs in Los Angeles County, a 1.4% boost.

Orange County saw 24,100 new jobs since June 2018. The 1.5% job growth is a sharp gain compared with May’s 1.1% year-over-year increase. Monthly job reports are not seasonally adjusted, meaning that changes based on normal calendar events are not factored in.

“It’s a good month for California in general and for us,” said Raymond Sfeir, an economist at the A. Gary Anderson Center for Economic Research at Chapman University. “Employment in Orange County has been low for five months, but these numbers are better.

Earlier this week, the California Association of Realtors reported the price of single-family homes was up 5.7% in San Bernardino County and 3.7% in Riverside County, a pattern Sfeir connects to job growth.

“As more people work, they demand more housing,” Sfeir said.

The jobless rate in Los Angeles County was unchanged at 4.5%. Unemployment in Orange County increased to 3% from 2.4% in May and to 4.3% from 3.5% in the Inland Empire. Typically unemployment tends to spike in June because of seasonal furloughs, especially at schools, Sfeir said.

Statewide 46,200 jobs were added in June and 296,100 in the last 12 months; the state’s 1.7% growth rate is now outpacing the nation’s 1.5%.

“Any notion that California’s economy is stalling should be set aside, at least for the time being,” said Robert Kleinhenz, an economist with the Center for Economic Forecasting and Development at UC Riverside and Los Angeles-based Beacon Economics.

Kleinhenz singled out the leisure and hospitality industry — which employs more than 555,000 in Los Angeles County alone — as a strong economic indicator.

“When you look at places like Los Angeles and Orange County, there’s significant tourism and significant population, so it’s getting a double-boost,” Kleinhenz said. “The good news is that people who live there appear to have the money to go out and spend some of it.”

The trade war seems to have had a muted impact, if any, on the region, he said. Cargo levels at Los Angeles’ ports are down but only slightly and the Inland Empire’s logistics industry is still expanding.

Here is a look at the stronger and weaker sectors, by location:

In Los Angeles County, construction jobs grew at a 7.8% clip, with activity evenly split between commercial and residential work. Other strong sectors include social assistance (5.8%), truck transportation (4.2%), food manufacturing (3%), leisure and hospitality (2.8%) and ambulatory health care (2.7%).

Weak sectors include financial activities (-1.9%), retail trade (-1.5%) and information (-0.7%).

In Orange County, growth was seen in leisure and hospitality (3.6%), construction ( 2.7%), professional and business services (2.6%) and health and education services (1.5%).

Declines were found in nursing and residential care facilities (-1.8%), retail (-1.1%), financial activities (-1.1%) and hospitals (-0.8).

In the Inland Empire, health care employers continued to hire, with the ambulatory care sector up 7%. Other strong sectors include leisure and hospitality (4.1%), professional and business services (2.9%), transportation and warehousing (2.8%)  and government (1.9%).

Job losses were in maintenance and repair work (-1.7%), financial activities (-0.7%), construction (-0.5%) and manufacturing (-0.2%).

Previous postTake Fab Photos on a Fall Day in Bodie Next postPolice Search for a Man Who Attacked Woman and Mother

Los Angeles Financial times

Copyright © 2022 Los Angeles Financial times

Updates via RSS
or Email