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Business Sep 20, 2024
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The seasonally adjusted unemployment rate in Los Angeles County rose to 5.6% in August, up from a revised 5.5% in July, according to the California Employment Development Department on Friday.
The county’s jobless rate as 5.1% in August 2023.
In Orange County, the unemployment last month rate was 4.5%, up from a revised 4.4% in July and higher than the 4% from August 2023.
The state’s seasonally adjusted unemployment rate was 5.3% in August, up from 5.2% in July and above the 4.8% rate a year ago. Nationwide unemployment was 4.2% in August, 4.3% in July and 3.8% in August 2023.
Total nonfarm employment in LA County added 13,700 jobs from July to August, reaching nearly 4.6 million, the EDD reported.
The government sector gained the most jobs with 15,500. The information sector lost the most month over month, dropping 3,700 positions.
Inland Empire
Amid mixed payroll losses and gains in the regional economy, the Riverside County unemployment rate surpassed 6% last month, according to the EDD.
The countywide jobless rate in August, based on preliminary EDD estimates, was 6.2%, compared to 6% in July.
According to data, the August rate was more than a half-percentage point above the year-ago level, when countywide unemployment stood at 5.5%.
The combined unemployment rate in August for Riverside and San Bernardino counties — the Inland Empire — was 6%, up from 5.9% in July, the EDD said. San Bernardino County’s jobless rate for August was 5.7% and unchanged compared with July.
Data for both counties indicated payrolls shrank by the widest margin in the agricultural industry, which cut a total 2,500 positions. The construction, financial services, hospitality, information technology and manufacturing sectors posted aggregate losses of 2,300 jobs.
Miscellaneous unclassified industries additionally shed about 700 jobs, according to figures.
Regionwide job gains posted in the health services, professional business services, public and transportation sectors, which boosted employment by an estimated 10,000 positions.
Only the mining sector was unchanged in August.
San Diego
San Diego County’s unemployment rate ticked upward in August to 5% from a revised 4.9% in July, and above the 2023 rate of 4.4%, according to the EDD.
Between July and August, total nonfarm employment increased from 1,556,900 to 1,558,500, an increase of 1,600 jobs. Agriculture lost 400 jobs in August compared with the previous month.
Private education and health services led job gains with 1,900 over the month. The government sector also showed gains with 1,100, and construction jobs increased by 300.
Five sectors, however, lost jobs between July and August in the Inland Empire.
Trade, transportation and utilities sectors had the most job losses, which decreased by 600. Job losses also posted in manufacturing, information, leisure and hospitality and other services with a combined loss of 1,100.
Mining and logging, professional and business services, and financial activities all were unchanged between July and August.
Compared with 2023, total nonfarm jobs in San Diego County increased by 10,800. Agricultural employment was unchanged when comparing August 2023 with August 2024.
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