Unemployment is up

The December jobless rate in L.A. County was 5.6 percent, up from 5.3 percent the previous month and 5 percent the month before that. The L.A. numbers are still well under California's overall unemployment rate, which rose last month to 6.1 percent. The U.S. rate was 5 percent. None of these numbers is especially encouraging, but they're hardly surprising. The overall economy is slowing and so more folks will be trying to find work. It’s really that simple. The state's separate payroll survey shows that L.A. employment grew by 12,700 jobs in December, with retail making up the lion's share (again, not surprising given the time of year). As for Hollywood, there was little noticeable impact from the writers strike last month – despite all the hyperbolic hand-wringing. In fact, the entertainment industry category actually increased by 800 jobs from November (and by 4,100 jobs from a year earlier). But keep in mind that tracking show biz employment is a problematic exercise (my column in the February issue of Los Angeles magazine addresses that). In some ways, the unemployment survey provides a better reading of possible job losses as a result of the walkout.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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