What slowdown? Southern California includes 59,100 workers in February

If there's a cooling of the job market, someone forget to inform Southern California employers.

My dependable spreadsheet, filled with state job figures, discovered 7.95 million at work in Los Angeles, Orange, Riverside and San Bernardino counties in February. That's up 59,100 employees in a month, up 159,900 in 12 months, and 56,800 above pre-pandemic February 2020.

And this is strong working with for a February. In between 2015 and 2019, before we knew anything of coronavirus, local managers added 46,100 jobs in the typical February.

The significant regional task development is somewhat surprising thinking about the Federal Reserve's significant efforts to cool an overheated economy that's generating bothersome inflation. In addition, many technology companies-- big California companies-- have announced major layoff plans.

Minimal choices

The continual hiring rate comes as employers have actually restricted option for talent.

The "labor force"-- a tally of the jobless plus the employed-- was 8.82 million for February. That was down 13,400 in a year and off 234,300 in 3 years, or 97% of pre-pandemic levels.

Joblessness rose somewhat in February, with 4.7% of Southern California workers officially out of work-- up from 4.5% in the previous month, but down from 5.2% a year previously. Joblessness was 4.3% in February 2020.

Regional distinctions

Here's how the task market carried out in three cities in February …….
Los Angeles County: 4.59 million employees employed, 99.3% of 3 years back after adding 41,900 in a month and growing by 102,300 in a year. Unemployment rate was 5.3% vs. 4.9% in January; 5.2% a year ago; 4.9% three years ago.

Orange County: 1.69 million employees, 100.5% of three years back after adding 10,500 in a month and growing by 44,600 in a year. Unemployment was 3.4%-- like January; 3.3% a year ago; 2.8% 3 years back.

Inland Empire: 1.67 million employees, 105.1% of 3 years ago after adding 6,700 in a month and growing by 13,000 in a year. Unemployment was 4.5% vs. 4.4% a month previously; 4.2% a year ago; 3.9% three years earlier.

Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com.