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Greater Los Angeles : Office - Q1 2017

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Greater Los Angeles : Office - Q1 2017

U.S. job growth trend remains firmly in place and nonfarm payroll employment has now increased for 78 consecutive months. Employment growth in the first quarter of 2017 was solid—averaging 178,000 jobs per month. The unemployment rate in Los Angeles County reached its lowest level in 10 years, declining to 4.8% in February. In the last year, nonfarm employment grew by 70,800, or +1.6%. Education and health services listed the largest employment gains, adding 31,300 jobs. The only sector with a reduction in jobs was manufacturing, influenced primarily by the increasing weakness in the apparel industry. Unemployment is expected to decline slowly over the next two years as the county reaches full employment in 2018.

Source : Cushman & Wakefield

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