Los Angeles hiring just 38% of recent pace, 106,000 jobs below pre-pandemic levels

 

Los Angeles County bosses added 9,500 workers in June — 38% of the recent hiring pace —  to bring employment to 97.7% of pre-pandemic levels.

My trusty spreadsheet, filled with state job figures, found local bosses had 4.51 million workers — up 237,300 in 12 months. June employment was 106,000 below February 2020, the last month before COVID-19 arrived on the economic scene.

Job growth is moderating as the Federal Reserve tries to cool an overheated economy and many bosses struggle to fill open positions. June’s hiring pace in Los Angeles County was slower than the 24,800 workers added monthly in the pandemic era’s employment rebound. Note: Bosses added workers at a 4,700 monthly pace in 2018-19 before coronavirus cratered the economy.

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Los Angeles County’s unemployment rate was 5.2% in June compared to 4.5% in the previous month; and 10% a year earlier; and 4.3% in February 2020.

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Source:: Los Angeles Daily News

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