Southern California Hits Record 10 Million Jobs as Annual Hiring Slows 42%
Updated
Updated · OCRegister · Sep 19
Southern California Hits Record 10 Million Jobs as Annual Hiring Slows 42%
2 articles · Updated · OCRegister · Sep 19
Summary
Southern California reached a seasonally adjusted record 10 million jobs in August, the region’s third record-high month this year.
47,000 jobs were added over the past 12 months, well below the 80,400 average annual gain since 2016, leaving hiring 42% under its 10-year norm.
The slowdown was broad but uneven: the Inland Empire ran 77% below trend, Orange County 39% below, Los Angeles County 17% below, and Ventura was flat; San Diego and Imperial outpaced their historical averages.
California also set a record at 18.2 million jobs, but statewide growth was 16% below its decade norm, while counties outside Southern California generated 66% of the state’s annual job gains.
Nationally, U.S. employment hit a record 159 million, yet job growth was 58% below its 10-year average; California still produced 23% of new U.S. jobs while accounting for 11% of total employment.