37% more Southern California workers added in March than average

Southern California’s bosses added 27,800 workers in March — a hiring pace 37% above the region’s pre-pandemic job growth for the month.

My trusty spreadsheet, filled with state job figures released Friday, April 19, found 7.95 million at work in Los Angeles, Orange, Riverside, and San Bernardino counties in March – up 27,800 in a month and up 76,900 in 12 months. Local hiring averaged 20,220 in March in 2015-19. February 2024 saw 36,400 employees added.

The past year’s job growth of 1% is slightly above the previous 12 months’ 0.8% increase but well off the 2.2% growth rate throughout 2015-19.

The month’s employment increase translated to lowered regional joblessness. The four-county unemployment rate was 4.8% in March compared with 4.9% in the previous month, and 4.3% a year earlier. Joblessness averaged 4.7% in pre-pandemic 2015-19.

Unemployed workers: 437,100 counted as officially out of work was down 2,000 in a month but up 48,000 in a year. The jobless count is 3% above the 424,700 average of pre-pandemic 2015-19.

Regional differences

Here’s how the job market performed in the region’s key metropolitan areas …

Los Angeles County: 4.56 million workers, after adding 14,900 in a month and growing by 19,300 in a year. Hiring averaged 9,460 for the month in 2015-19. Unemployment: 5.2% vs. 5% a month earlier; 4.4% a year ago; and 5.2% average in 2015-19.

Orange County: 1.7 million workers, after adding 7,100 in a month and growing by 31,000 in a year. Hiring averaged 3,420 for the month in 2015-19. Unemployment: 3.9% vs. 4.2% a month earlier; 2.9% a year ago; and 3.6% average in 2015-19.

Inland Empire: 1.69 million workers, after adding 5,800 in a month and growing by 26,600 in a year. Hiring averaged 7,340 for the month in 2015-19. Unemployment: 5.1% vs. 5.5% a month earlier; 3.9% a year ago; and 5.2% average in 2015-19.

Industry swings

Job changes in key Southern California business sectors, ranked by one-month change …

Education/health: 1.53 million workers – up 12,100 in a month and up 86,600 in a year.

Leisure/hospitality: 951,400 workers – up 9,100 in a month and up 8,800 in a year.

Government: 1.03 million workers – up 6,300 in a month and up 28,200 in a year.

Professional-business services: 1.13 million workers – up 2,400 in a month but down 9,900 in a year.

Information: 218,800 workers – up 2,100 in a month but down 32,100 in a year.

Construction: 370,200 workers – up 1,600 in a month and up 9,100 in a year.

Manufacturing: 567,000 workers – down 800 in a month and down 10,000 in a year.

Financial: 356,100 workers – down 1,500 in a month and down 3,700 in a year.

Retailing: 725,500 workers – down 1,700 in a month and down 2,300 in a year.

Transport-warehouse-utility: 679,300 workers – down 3,000 in a month but unchanged in a year.

Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com

Source: Orange County Register