Southern California bosses have pulled back on hiring, but this cooling is less dramatic than what\u2019s seen nationwide.<\/p>\n
My trusty spreadsheet examined employment in Los Angeles, Orange, Riverside, San Bernardino, San Diego, Ventura, and Imperial counties using July job counts from the state\u2019s Employment Development Department and the federal Bureau of Labor Statistics. These stats were adjusted for seasonal hiring swings.<\/p>\n
In July, Southern California businesses had 9.9 million people on the payroll, up 45,900 from a year ago. For some perspective, over the past decade, the region has averaged 79,400 new jobs a year.<\/p>\n
So job creation is running 42% slower than what we\u2019ve gotten used to. No wonder folks are feeling a little uneasy about the economy.<\/p>\n
But measure that slowdown against what\u2019s happening across the country.<\/p>\n
Nationwide, employers had 159 million people working in July, which is 316,000 more than last year. That\u2019s a far cry from the 1.4 million jobs a year we\u2019ve seen since 2016. We\u2019re talking about a 78% cut.<\/p>\n
Or look at the gaps this way: Southern California jobs grew by 0.5% over the past year. The whole country? Just 0.2%.<\/p>\n
Why?<\/p>\n
It\u2019s zero surprise that numerous employers are hesitant to add to their payrolls when they\u2019re juggling so many unknowns.<\/p>\n
There\u2019s an Iran war that won\u2019t end, heightening anxieties, plus fluctuating trade policies for those who deal with foreign goods or markets. Inflation and interest rates remain stubbornly elevated. And if you sell to consumers, those customers are fairly skittish, too.<\/p>\n
Locally, employment continues to blossom in the medical field and private education. Plus, it\u2019s been a good summer for tourism, with the World Cup soccer games in Los Angeles providing an added draw for out-of-town visitors.<\/p>\n
Northern lights<\/p>\n
Curiously, bosses elsewhere in California are less concerned about increased staffing, thanks to the Bay Area companies\u2019 race for artificial intelligence supremacy.<\/p>\n
The state\u2019s 51 other counties had 8.2 million jobs in July, up 66,600 from last year. That\u2019s a 0.8% bump and 19% slower than the usual pace of 82,200 new jobs a year since 2016.<\/p>\n
Add up the Golden State and ponder California\u2019s clout in the national job market: The state represented 11% of all American employment in July, but it was 36% of all U.S. job creation in the past year.<\/p>\n
Locally speaking<\/p>\n
Contemplate the region\u2019s six job markets. Four added workers over the past year, while two saw declines in employment.<\/p>\n
Here\u2019s how they fared, ranked by July\u2019s job swings:<\/p>\n
\u2013 Los Angeles County: 4.6 million workers, up 20,700 in a year \u2013 equal to the 10-year norm.<\/p>\n
\u2013 San Diego County: 1.6 million jobs, up 11,600 in a year, and 21% below the 14,700-a-year norm.<\/p>\n
\u2013 Inland Empire: 1.7 million jobs, up 8,200 in a year, and 74% below the 31,800-a-year norm.<\/p>\n
\u2013 Orange County: 1.7 million jobs, up 7,100 in a year, and 33% below the 10,600-a-year norm.<\/p>\n
\u2013 Imperial County: 61,000 jobs, down 200 in a year. Pace since 2016? 900 added yearly.<\/p>\n
\u2013 Ventura County:\u00a0 317,200 jobs, off 1,500 in a year. Pace since 2016? 1,700 added yearly.<\/p>\n
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com<\/a><\/p>\n