Los Angeles County unemployment rate falls to century’s low of 4.2 percent in February – Daily News

on Apr1
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Los Angeles County’s employment winning streak grew to 100 months in February while joblessness rose in a year to a century’s low 4.2 percent.

Here are 10 Los Angeles County job market trends for from the state Employment Development Dept.’s monthly report: February (seasonally unadjusted) data compared to a year ago and the average of the previous five years …

1. Jobs: 4.52 million. That compares to 4.49 million a year ago — up 31,500 or 0.70 percent — vs. L.A.’s 4.30 million 5-year average.

2. Job growth: That 0.70 percent growth rate compared to 1.83 percent a year ago and 1.15 percent two years ago. Four-county Southern California growth in February? 0.8 percent.

3. Recovery: 100 consecutive months of year-over-year job growth dating to November 2010. In L.A.’s post-recession rebound, 570,600 jobs were created, or a 1.70 percent annualized hiring pace vs. 0.52 percent since 2000. percent since 2000.

4. Unemployment rate: 4.2 percent compared to 4.7 percent a year ago; and a 6.7 percent 5-year average. And it’s the lowest jobless rate this century for any February. Comparable statewide jobless rate? 4.4 percent. U.S. rate? 4.1 percent.

5. Number of jobless: 216,300 compared to 240,100 a year ago — that’s down 23,800 or 9.9 percent — vs. 337,663 over five years.

6. Goods-producing jobs: 489,100 compared to 489,500 a year ago — that’s down 400 or 0.1 percent — vs. 494,352 over five years.

7. Service jobs: 4.03 million compared to 4.00 million a year ago — up 31,900 or 0.8 percent — vs. 3.81 million over five years. This is the biggest service staffing since 2000 for any February.

8. Government jobs: 595,500 compared to 593,500 a year ago — that’s up 2,000 or 0.3 percent — vs. 568,987 over five years.

9. Workforce: This century’s high for total employed and unemployed in any February at 5.14 million. That compares to 5.09 million a year ago — up 40,500 or 0.79 percent — vs. 5.02 million 5-year average.

10. Regionally: For February joblessness in four-county Southern California, 4 percent; Inland Empire at 4.2 percent; and Orange County at 3 percent. Job growth for 12 months? SoCal at 0.8 percent; the I.E. at 1.23 percent; and O.C. at 0.7 percent.

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