Los Angeles Job Market Report

By: Quiet. Please
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  • Summary

  • Discover the latest trends, insights, and opportunities in Southern California with the "Los Angeles Job Market Report" podcast. Each episode delves into the dynamic LA job market, featuring expert interviews, industry analysis, and practical career advice. Stay ahead of the competition with insider tips on job hunting, networking, and career growth in Los Angeles. Whether you're a job seeker, employer, or just curious about the local economy, this podcast is your go-to resource for navigating the ever-changing job landscape in the City of Angels. Tune in and elevate your career prospects today!

    For more info go to https://www.quietperiodplease....
    Copyright 2024 Quiet. Please
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Episodes
  • "LA's Shifting Job Landscape: Navigating Volatility and Emerging Trends"

    "LA's Shifting Job Landscape: Navigating Volatility and Emerging Trends"
    Sep 27 2024
    The job market in Los Angeles has shown mixed signals in recent months. Despite some improvements, the overall employment landscape remains challenging. As of August 2024, the unemployment rate in Los Angeles County rose to 5.6% from 5.5% the previous month and 5.1% a year earlier.

    Employment statistics indicate that while total nonfarm jobs in Los Angeles County increased by 95,800 over the year, certain sectors have faced significant declines. The motion picture and sound recording industries, for instance, have been lackluster, with employment dipping below 100,000 in August. The information sector, which includes these industries, posted the largest decline over the year, losing 21,000 jobs.

    Healthcare and social assistance, however, have been strong job creators, adding 4,300 jobs in December 2023. Trade, transportation, and utilities also saw significant gains, with retail trade, wholesale trade, and transportation sectors contributing to the overall employment increase.

    Recent developments include a hiring freeze in state government payrolls due to budget woes, leading to a loss of 17,100 jobs in August. This is a significant change from the consistent job growth in the public sector over the past three decades.

    The transportation and warehousing sector has seen a boost, partly due to increased activity at the ports of Los Angeles and Long Beach, driven by the diversion of cargo from the drought-stricken Panama Canal.

    Seasonal patterns show that while some sectors like healthcare and leisure and hospitality posted solid job gains in August, others such as construction and manufacturing remained flat or declined.

    Commuting trends and detailed data on commuting patterns are not explicitly mentioned in the recent reports, indicating a data gap in this area.

    Government initiatives, such as the UCLA Anderson Forecast's efforts to provide more accurate employment data through the DataLA project, aim to enhance transparency and accuracy in employment statistics.

    The market evolution suggests that while there are signs of improvement in certain sectors, the job market in Los Angeles remains volatile. The recent interest rate cuts by the Federal Reserve are expected to boost confidence and potentially stabilize the labor market.

    Key findings include the high unemployment rate compared to national averages, the decline in key industries like motion pictures and tech, and the growth in healthcare and transportation sectors.

    Current job openings in Los Angeles include positions in healthcare, such as Registered Nurses and Medical Assistants, jobs in the transportation sector like Truck Drivers and Logistics Coordinators, and roles in the information sector such as Software Developers and Data Analysts.

    In summary, the Los Angeles job market is navigating through challenges with some sectors showing resilience and growth, while others face significant declines. Monitoring recent trends and government initiatives will be crucial for understanding the market's evolution.
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    4 mins
  • The Diverse and Dynamic Job Market of Los Angeles: Trends, Challenges, and Opportunities

    The Diverse and Dynamic Job Market of Los Angeles: Trends, Challenges, and Opportunities
    Sep 24 2024
    The job market in Los Angeles is diverse and dynamic, reflecting the broader economic trends of the region. As of 2024, the total nonfarm wage and salary employment in the Los Angeles-Long Beach-Santa Ana metropolitan area stands at several million jobs, with various sectors contributing to the employment landscape.

    Key statistics include an unemployment rate of 6.60% as of July 2024, which is higher than the previous month's 6.00% but lower than the long-term average of 8.09%. The labor force data indicates a significant presence of industries such as Health Care and Social Assistance, Government, Accommodation and Food Services, and Professional and Business Services.

    Major industries in Los Angeles include Healthcare Practitioners and Technical, Office and Administrative Support, Management, and Sales and Related occupations. The region is also home to a robust entertainment industry, technology sector, and a substantial manufacturing base.

    Growing sectors include Health Care and Social Assistance, with projections indicating significant growth in the next five years. The region is expected to see an overall employment growth of 342,086 jobs between 2023 and 2028.

    Recent developments highlight the importance of accurate employment data, with initiatives like the UCLA Anderson Forecast providing more precise estimates of household employment and payroll employment data compared to traditional methods.

    Seasonal patterns in employment are notable, particularly in sectors like Leisure and Hospitality, which tend to see fluctuations based on tourist seasons and economic conditions.

    Commuting trends in Los Angeles are characterized by heavy traffic and long commute times, reflecting the sprawling nature of the city. There is a growing emphasis on public transportation and alternative commuting solutions.

    Government initiatives focus on improving employment opportunities and economic growth. For example, the City of Los Angeles's Open Data portal, launched in 2014, provides access to detailed employment and economic data, aiding in policy-making and economic development.

    The market evolution in Los Angeles is marked by a shift towards service-oriented industries and a growing tech sector. However, data gaps exist, particularly in real-time tracking of certain occupational sectors and the impact of technological changes on employment.

    Key findings indicate a resilient job market with growth potential, though challenges such as unemployment and commuting issues persist.

    Current job openings include:
    - Healthcare Practitioners and Technical roles in major hospitals and healthcare facilities.
    - Business and Financial Operations positions in financial services companies.
    - Office and Administrative Support roles across various industries.

    Sources: U.S. Bureau of Labor Statistics Acara Solutions YCharts Labor Market Information, California EDD UCLA Anderson Forecast
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    3 mins

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