Los Angeles Unemployment Rate

denn man tau Angeles Unemployment Rateleinen los Angeles Unemployment Rateleinen los Angeles Unemployment RateAccording to the Bureau of Labor Statistics (BLS), the Los Angeles unemployment tarif was 7.5 percent in December 2014. Comparatively, the US unemployment rate for that period was 5.4 percent. For statistical purposes, the BLS considers the Los Angeles area to include both Los Angeles County and Orange County.Looking at Unemployment Trends Over TimeThe BLS provides archived data of Los Angeles unemployment rates, allowing both job seekers and employers to see how data has changed through the years. In the case of Los Angeles, the unemployment rate has gradually declined, suggesting a general economic improvement. Between 2011 and 2013, the unemployment rate improved by over two percent.The Impact of the 2008 Recession on the Los Angeles WorkforceLike many other areas of the United States, Los Angeles was adversely affected by the 2008 economic recession. The annual unemployme nt rate for the area in 2008 was 6.9 percent, but it was just 4.8 percent in 2007. In 2011, the area saw a slight recovery. Since then, the unemployment rate has consistently fallen, indicating that Los Angeles is recovering after the initial economic hit brought on by the widespread 2008 recession.Industries That Positively Influenced the Unemployment Rate in Los AngelesThere are several industries that have played important roles in reducing the rate of unemployment in the Los Angeles area. The job market for wage and salaried non-farming jobs climbed by 1.8 percent in 2014, while information-related positions rose by 2.8 percent.Education and health services careers were significant in strengthening the Los Angeles economy, too. In 2014, the job market in those fields increased by 4.2 percent. Kaiser Permanente and USC Medical Center are two of the top employers for the latter sector, while California State University employs many people in the education sector.Likely Areas of Fu ture Economic Growth in Los AngelesHealthcare is a perpetually rapidly growing career sector, not just in Los Angeles, but also nationwide. Factors such as an aging bevlkerung and improved access to healthcare for a larger number of people mean that healthcare jobs could help reduce the US unemployment rate.In Los Angeles, residents spent 5.1 percent of their income on healthcare-related expenses between 2012-2013. However, healthcare is not the only potential economic powerhouse that could benefit the areas economic growth.So-called green jobs that look to reduce pollution, conserve natural resources, grow renewable energy and optimize recycling all show promise as job catalysts. In 2011, California offered more such jobs than any other state.Due to Californias large population, the growth rate of green jobs in the state that year was considered average by the BLS. However, the trend towards eco-friendly living is taking off nationwide, and many people view Los Angeles as a hotbed of popular trends, which may help fuel the demand for future green jobs.Industries That Are Unlikely to Reduce the Unemployment Rate in Los AngelesAlthough the Los Angeles economy has shown overall improvement in the years since the 2008 Recession, this success was not evident across all industries.Looking at December 2014 data, for example, jobs in the government sector fell by 0.4 percent compared from the previous year.That downward trend is also reflected in job market data for the months leading up to the end of the year. The manufacturing industry has also struggled recently data shows this sector fell by 1.6 percent in December 2014. Surprisingly, this shows a slower decline in the manufacturing industry than what has occurred in recent months.A key measure of labor supply, the unemployment rate is defined as the percentage of the total labor force that is unemployed but actively seeking employment and willing to work. Use the links below to see unemployment trends from the 2 8 major metropolitan marketsAtlantaDetroitNew York CitySan FranciscoBostonHoustonPhiladelphiaSeattleChicagoLos AngelesPittsburghWashington, D.C.DallasRelated ResourcesPost a Job Los Angeles