Are job postings on the decline in the Los Angeles and Orange County MSA during these uncertain times?
Job postings across the Los Angeles-Long Beach-Anaheim MSA have improved by 39.4% from April 2020 to April 2023 with the current unemployment rate holding steady at 5.0% for Los Angeles and 3.4% for Orange County, respectively. However as of late, the tech industry continues to announce layoffs and in addition, companies such as Disney, Gap, Walmart, and Alteryx have also followed suit, causing job postings to decline 17.8% from October 2022 to April 2023. From October 2022 to April 2023, office-use job postings have declined by nearly 19% and industrial/warehouse job postings declined 26%, respectively. This supports the slowdown in office activities as office users continue to downsize their office footprints due to lower employee counts along with the implementation of hybrid work schedules. The percentage share of remote job postings in relation to the total number of job postings in the Los Angeles-Long Beach-Anaheim MSA currently stands at 6.5%.
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