While the unemployment rate in Los Angeles, Orange, Riverside, and San Bernardino counties dipped to a low not seen since May, a closer look reveals a potentially worrisome trend. Although the December rate stands at 5.2%, it's 7% higher compared to pre-pandemic levels and has seen a significant increase year-over-year.
Data released this month, unadjusted for seasonal variations, revealed a 5.2% unemployment rate in the four-county region of Los Angeles , Orange, Riverside, and San Bernardino in December. This marked a decline from November's 5.4% and represented the lowest rate since May. However, a broader perspective paints a different picture. Analyzing worker surveys, combined unemployment in these counties stood at 4.8% in December 2023, contrasting with an average of 4.
7% in the pre-pandemic years of 2015-2019.December witnessed 454,300 individuals officially unemployed across the four counties, a 38,900 increase compared to the previous year and a 7% rise above the pre-pandemic 2015-2019 average. Despite this, the region recorded a historic 8.12 million employed individuals in December, surging by 7,200 from the previous month and 79,300 from the last 12 months. Breaking down the job market performance across key metropolitan areas within the region, ranked by December's unemployment rate: Los Angeles County displayed a 5.7% unemployment rate in December, down from 5.9% a year ago and averaging 5.2% between 2015 and 2019. The county boasted a record-high 4.66 million workers, adding 11,400 in a month and growing by 45,600 in a year. Orange County experienced a 4.9% unemployment rate in December, compared to 5.3% the previous month, 5.5% a year ago, and 5.2% average between 2015 and 2019. The county employed 1.74 million workers, declining by 900 in a month but increasing by 22,800 in a year. Riverside County saw a 3.8% unemployment rate in December, compared to 4% the previous month, 4.2% a year ago, and 3.6% average between 2015 and 2019. The county employed 1.72 million workers, dropping by 3,300 in a month but increasing by 10,900 in a year
Unemployment Jobs Economy California Los Angeles Orange County Riverside County San Bernardino County
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