The Unemployment rate rises in Los Angeles County, CA

Saurabh

Disclaimer: The author does not claim to be an expert in the field, but the article is based on credible sources.

https://img.particlenews.com/image.php?url=3zM7ff_0erMLi2D00
Image for Representational purpose OnlyPhoto by Saulo Mohana on Unsplash

According to Employment Development Department, The seasonally adjusted unemployment rate in the State of California in February 2022 was 5.4 percent, down from 5.7 percent in January 2022 and 8.6 percent a year before in February 2021. The equivalent projections for the country in February 2022 were 3.8 percent, 4.0 percent in January 2022, and 6.2 percent a year earlier.

Total nonfarm employment in Los Angeles County rose by 61,100 between January 2022 and February 2022, reaching 4,462,500. According to numbers issued by the State Employment Development Department, the seasonally adjusted unemployment rate in Los Angeles County fell by a month to 6.4 percent in February 2022, from a revised 6.9 percent in January 2022, and was lower than the figure of 10.7 percent a year earlier.

In February 2022, civilian employment climbed by 33,000 to 4,692,000, while unemployment fell by 22,000 to 322,000. The civilian workforce grew by 11,000 in a month, reaching 5,014,000 in February 2022. Except for mining and logging, all industry sectors saw a rise in staffing numbers. Leisure and hospitality, as well as educational and health services, led job growth, adding 10,500 jobs apiece. These two industries accounted for 34% of the overall month-over-month rise in nonfarm employment.

Leisure and hospitality grew the most of any industry last year, accounting for 36% of overall nonfarm growth. Accommodation and food services added 88,800 jobs, mostly in food services and drinking establishments. The arts, leisure, and recreation industries rose by 28,200 jobs. The leisure and hospitality industry has regained 71% of the 252,900 jobs lost in 2020.

Reference:

State of California Employment Development Department

Comments / 5

Published by

Saurabh is a Computer Science & Engineering undergraduate student pursuing his writing interests. He enjoys researching current events/news as well as Evergreen Topics and has also been writing on Medium, Quora and Vocal.

N/A
5966 followers

More from Saurabh

Comments / 0