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Southern California's long job creation streak ends with a 0.3% job loss, unemployment rising to 5.4%.
Southern California's 45-month job creation streak ended in January, with a 0.3% decrease in employment across Los Angeles, Orange, Riverside, and San Bernardino counties.
The region lost 21,800 jobs compared to the previous year, influenced by high inflation, interest rates, and economic uncertainty.
The unemployment rate for the region rose to 5.4% in January, up from 5.2% in December.
San Diego's unemployment rate also increased to 4.5%, due to job cuts in retail and hospitality post-holiday season.
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La larga racha de creación de empleo del sur de California termina con una pérdida de empleo del 0,3%, el desempleo se eleva al 5,4%.