Saturday, March 9, 2024

LA County Unemployment Rate Rises in January

CITY NEWS SERVICE

Los Angeles County’s seasonally adjusted unemployment rate rose to 5.4% in January, up slightly from a revised 5.2% in December, according to figures released Friday by the state Employment Development Department.

The 5.4% rate was above the 5% rate from January 2023.

Statewide, the seasonally adjusted unemployment rate was 5.2% in January, 5.1% in December and 4.5% in January 2023. The comparable figures for the nation were 3.7% in January, 3.7% in December and 3.4% a year ago.

Total nonfarm employment in Los Angeles County decreased by 70,200 positions between December and January to reach more than 4.5 million. The trade, transportation and utilities sector led the way by dropping 20,500 jobs, thanks mainly to the end of the holiday season and drops in retail employment, according to the EDD.

Specific statistics for Pasadena were not broken out in the March 8 report.

In December 2023, the unemployment rate in Pasadena was reported at 4.40%, compared to 4.60% the previous month and 3.70% the previous year. This rate is lower than the long-term average of 6.28%. Pasadena’s unemployment rate was lower than both the county’s and the state’s rates.