Los Angeles, CA – December 2023 Jobs Report – City of Angels Sees Holiday Cheer in Job Gains, Despite Slowdown

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Overview: The December 2023 jobs report for Los Angeles paints a positive picture, with overall employment on the rise. While some industries experienced seasonal dips, others added jobs, indicating a resilient and growing job market for 2024. The unemployment rate remained low, suggesting continued optimism for the LA economy.

Highlights:

  • Unemployment rate: 5.0%, holding steady and below the national average.
  • Job gains: Trade, Transportation & Utilities, Leisure & Hospitality, Professional & Business Services, and Government sectors added jobs in December.
  • Year-over-year growth: Positive employment growth compared to December 2022 in most industries.

Industries and Occupations that Grew:

  • Trade, Transportation & Utilities: This sector, encompassing retail, transportation, and logistics, saw the most job gains, likely due to holiday shopping activity.
  • Leisure & Hospitality: Restaurants, hotels, and tourism-related businesses experienced a seasonal uptick.
  • Professional & Business Services: This broad sector includes healthcare, education, and legal services, all adding jobs in December.
  • Government: Public sector employment remained stable.

Industries and Occupations that Shrunk:

  • Construction: This industry typically experiences a slowdown during winter months.
  • Manufacturing: Job losses in this sector were minimal.
  • Other Services: This includes personal care and laundry services, which may have seen reduced demand during the holidays.

Comparison to Same Month Last Year:

  • Overall employment: Up 1.6% compared to December 2022.
  • Unemployment rate: Down from 5.8% in December 2022.

Comparison to Previous Month:

  • Overall employment: Down 0.2% from November 2023.
  • Unemployment rate: Unchanged from November 2023.

Future Outlook:

The LA job market is expected to see continued growth in 2024, with opportunities in various sectors. Here are 10 occupations anticipated for significant growth:

  1. Registered Nurses
  2. Software Developers and Software Quality Assurance Analysts
  3. Home Health Aides
  4. Personal Care Aides
  5. Marketing Specialists
  6. Sales Representatives
  7. Customer Service Representatives
  8. Physicians
  9. Financial Analysts
  10. Truck Drivers

10 Companies Hiring Now:

  1. Kaiser Permanente
  2. Cedars-Sinai Health System
  3. Walt Disney Company
  4. Amazon
  5. SpaceX
  6. Netflix
  7. Warner Bros. Discovery
  8. Bank of America
  9. Wells Fargo
  10. UCLA Health

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