Surprisingly robust hiring in February with jobs added at roughly twice the pre-pandemic pace.
Southern California real estate had surprisingly robust hiring in February with jobs added at roughly twice the pre-pandemic pace.
Despite a crash in homebuying, bosses in real estate-related industries in the four counties employed 770,000 workers in February, up 12,900 for the month or a 1.7% increase. In pre-pandemic 2015-19, an average February saw 6,480 real estate jobs added. You can see the fallout of the past year’s homebuying turmoil in local real estate jobs, which fell 3,100 over 12 months, or a 0.4% drop. That’s largely due to cuts by lenders. Higher mortgage rates dramatically slowed home purchases and other real estate transactions until very recently.
Real estate is part of a broader 2023 hiring push. Bosses in all other industries across Southern California had 7.2 million workers in February, up 46,200 for the month, a 0.7% gain, and up 163,000 over 12 months, or a 2.3% gain.Here is how key real estate-related employment niches in Southern California fared in February …365,200 workers in various trades – up 9,400 for the month and off 1,300 over 12 months, or a 0.4% drop. An average February in 2015-19 had 4,480 new construction jobs.
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at
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