LA's Resilient Job Market: Tech, Healthcare, and the Evolving Workforce

The job market in Los Angeles is characterized by dynamic shifts and growth in several key sectors. As of April 2025, civilian employment in California, which includes the Los Angeles area, stood at 4,775,000, with a seasonally adjusted unemployment rate of around 5.1% in December 2023, slightly higher than the national rate of 3.7% during the same period.

The employment landscape is diverse, with significant gains in trade, transportation, and utilities, which added 6,700 jobs between November and December 2023. Retail trade, wholesale trade, and transportation sectors contributed to this increase. Private education and health services also saw substantial growth, with health care and social assistance adding 4,300 jobs. However, sectors like information, construction, leisure and hospitality, manufacturing, and government experienced job losses.

Key sectors on the rise include technology, healthcare, entertainment, and green energy. The Los Angeles tech scene is particularly vibrant, with an projected 8.6% job growth and average tech salaries around $117,096 annually. The area is home to over 14,000 tech companies, with a strong focus on health tech and fintech.

Recent developments indicate a stable unemployment rate and strategic wage growth, which are crucial for attracting talent. Remote work and the gig economy continue to influence business strategies. Companies are loosening experience requirements to speed up hiring, with around 56% of tech managers adopting this approach.

Seasonal patterns show variations in employment across different industries, with trade and utilities leading in job additions during the end of 2023. There is limited data on commuting trends, but the evolving nature of remote work suggests a shift in traditional commuting patterns.

Government initiatives are not explicitly detailed in recent reports, but the focus on adaptability, local talent, and sustainability is emphasized for entrepreneurs to thrive.

In summary, the Los Angeles job market is marked by growth in tech, healthcare, and other key sectors, with a stable unemployment rate and evolving work practices. Current job openings include positions in health tech, software development, and data analytics, reflecting the market's strong demand for tech and healthcare professionals.

Key findings include the robust growth of the tech sector, the importance of adaptability and continuous learning, and the loosening of experience requirements by employers to expedite hiring. Overall, Los Angeles presents a dynamic and promising job market for various industries.

Episode Transcript

Speaker 1 (00:00):
This is your Los Angeles Job Market Report Daily podcast,
and here is what we know for today. The job
market in Los Angeles is characterized by dynamic shifts and
growth in several key sectors. As of April twenty twenty five,
civilian employment in California, which includes the Los Angeles area,
stood at four thousand, seven hundred seventy five thousand, with

(00:21):
a seasonally adjusted unemployment rate of around five point one
per cent in December twenty twenty three, slightly higher than
the national rate of three point seven per cent during
the same period. The employment landscape is diverse, with significant
gains in trade, transportation, and utilities, which added six thousand,
seven hundred jobs between November and December twenty twenty three. Retail, trade,

(00:44):
wholesale trade, and transportation sectors contributed to this increase. Private
education and health services also saw substantial growth, with health
care and social assistance adding four thousand, three hundred jobs. However,
sectors like information, construction, leisure and hospitality, manufacturing, and government
experienced job losses. Key sectors on the rise include technology, healthcare, entertainment,

(01:09):
and green energy. The Los Angeles tech scene is particularly vibrant,
with improjected eight point six percent job growth and average
tech salaries around one hundred seventy thousand, ninety six dollars annually.
The area is home to over fourteen thousand tech companies,
with a strong focus on health, tech and fintech. Recent
developments indicate a stable unemployment rate and strategic wage growth,

(01:33):
which are crucial for attracting talent. Remote work and the
gig economy continue to influence business strategies. Companies are loosening
experience requirements to speed up hiring, with around fifty six
percent of tech managers adopting this approach. Seasonal patterns show
variations in employment across different industries, with trade and utilities

(01:54):
leading in job editions during the end of twenty twenty three.
There is limited data on commuting, but the evolving nature
of remote work suggests a shift in traditional commuting patterns.
Government initiatives are not explicitly detailed in recent reports, but
the focus on adaptability, local talent, and sustainability is emphasized

(02:16):
for entrepreneurs to thrive. In summary, the Los Angeles job
market is marked by growth in tech, healthcare, and other
key sectors, with a stable unemployment rate and evolving work practices.
Current job openings include positions in health tech, software development,
and data analytics, reflecting the market's strong demand for tech

(02:37):
and healthcare professionals. Key findings include the robust growth of
the tech sector, the importance of adaptability in continuous learning,
and the loosening of experience requirements by employers to expedite hiring. Overall,
Los Angeles presents a dynamic and promising job market for
various industries. And that is it for today. Hit the

(02:58):
subscribe button. This has been a quiet please production with
the help of AI. Thanks for listening.