Los Angeles unemployment rate lowest in 10 years

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Los Angeles unemployment reached 4.3 percent in May, the lowest level in 10 years, signaling full employment. The region’s economic recovery typically lags the state and the nation, but now boasts the lowest unemployment rate.

How much further can the LA economy grow? The Los Angeles Economic Development Corporation (LAEDC) expects the LA economy to add jobs at a 1.7 percent annual growth rate in 2016, followed by a 1.0 percent annual growth rate in 2017, with notable wage gains across industry sectors.

For more information contact Henry Gjestrum.

Visit the JLL Los Angeles Research webpage for additional market insight.

Source: JLL Research, BLS and the LAEDC, 2016

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