The region had 528,800 out of work in July, up 50,400 from June and up 97,900 in a year.
Southern California joblessness is now at its highest level since October 2021., found the four-county unemployment rate was 6% across Southern California in July. That’s up sharply from 5.4% in June, and 4.9% a year earlier.
One large drag for jobseekers is that the broad economy – locally and nationally – has slowed. A prime culprit is the Federal Reserve’s battle with inflation using pricier financing. That has cooled a once overheated business climate. Why the July job dips? Well, government educators taking summer break is a key reason for the slippage.
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