PDF Los Angeles Area Economic Summary

Los Angeles Area Economic Summary

Updated October 04, 2022

This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area summaries and geographic definitions, see regions/economic-summaries.htm.

Unemployment rates for the nation and selected areas

Unemployment rates

Average weekly wages for all industries by county

Los Angeles-Long Beach-Anaheim, CA MSA, first quarter 2022 (U.S. = $1,374; Area = $1,493)

United States

5.3 3.8

California

7.2 4.1

Los Angeles metro area

8.2 4.5

Los Angeles County

8.9 4.9

Orange County

6.0 3.0

Los Angeles city

9.0 5.0

0.0

5.0

10.0

Aug-21 Aug-22 Source: U.S. BLS, Local Area Unemployment Statistics.

Source: U.S. BLS, Quarterly Census of Employment and Wages.

Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector

12-month percent changes in employment 15.0

10.0

5.0

0.0

-5.0

-10.0

-15.0

-20.0 Aug-19

Aug-20

Aug-21

Aug-22

Los Angeles metro area

United States

Source: U.S. BLS, Current Employment Statistics.

Los Angeles metro area

Change from Aug.

employment

Aug. 2022 2021 to Aug. 2022

(number in thousands)

Number Percent

Total nonfarm

6,157.0

197.2

3.3

Mining and logging

2.0

0.0

0.0

Cons tructi on

268.3

15.6

6.2

Ma nufa cturi ng

477.3

16.1

3.5

Trade, transportation, and utilities

1,104.6

36.9

3.5

I nforma ti on

256.2

-8.1

-3.1

Financial activities

326.2

-3.9

-1.2

Professional and business services

998.4

38.4

4.0

Education and health services

1,119.7

42.5

3.9

Leisure and hospitality

727.0

57.7

8.6

Other services

203.9

15.8

8.4

Government

673.4

-13.8

-2.0

Source: U.S. BLS, Current Employment Statistics.

Over-the-year change in the prices paid by urban consumers for selected categories

12-month percent change in CPI-U, August 2022

25.0

23.8

20.7

20.0

15.0

10.0

7.6 8.3

5.0

11.4 9.2

0.0

All items

Food

Energy

Los Angeles metro area

U.S. city average

Source: U.S. BLS, Consumer Price Index.

Over-the-year changes in the selling prices received by producers for selected industries nationwide

12-month percent changes in PPI

40.0 30.0 20.0 10.0

0.0 -10.0 -20.0 -30.0

Aug-19

Aug-20

Aug-21

General freight trucking

Hospitals

Hotels (exc casino hotels) and motels Source: U.S. BLS, Producer Price Index.

Aug-22

Average annual spending and percent distribution for selected categories

Average annual expenditures, United States and Los

Angeles, 2020-21

100% 80% 60% 40%

$10,219 $7,973 $4,487 $8,773

$11,219

$11,062 $7,562 $5,316 $7,803 $10,398

20%

$26,143

$22,046

0%

Los Angeles

United States

All other items

Personal insurance & pensions

Healthcare

Food

Transportation

Housing Source: U.S. BLS, Consumer Expenditure Survey.

Average hourly wages for selected occupations

Occupation All occupations

Los Angeles United metro area States

$31.70 $28.01

Human resources managers

72.46 65.67

Registered nurses

55.82 39.78

Accountants and auditors

43.13 40.37

Electricians

34.83 30.44

Chefs and head cooks

29.64 27.37

Construction laborers

24.70 21.22

Source: U.S. BLS, Occupational Employment and Wage Statistics, May 2021.

Employer costs per hour worked for wages and selected employee benefits by geographic division

Private industry, June 2022

Total compensation Wages and salaries Total benefits Paid leave Vacation Supplemental pay Insurance Retirement and savings Legally required benefits

West census region $42.64 30.10 12.54 3.21 1.63 1.35 3.20 1.45 3.33

United States $38.91

27.44 11.47

2.87 1.47 1.37 2.96 1.33 2.93

Source: U.S. BLS, Employer Costs for Employee Compensation.

Over-the-year changes in wages and salaries

12-month percent changes in ECI

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

Jun-19

Jun-20

Los Angeles area

Source: U.S. BLS, Employment Cost Index.

Jun-21

Jun-22

United States

Western Information Office ? BLSinfoSF@ ? ? 415-625-2270

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