| (April 25, 2017, 6:57 a.m.) -- On Monday April 24, the City of Long Beach issued a press release stating that LB's unemployment rate for March 2017 (not seasonally adjusted) had declined "to a low of 4.7%, compared to 5.5% around the same time in 2016" while the state unemployoment rate "for the same period was 4.9%."
What it didn't say was that LB's unmployment rate now (4.7%) is basically the same (actually a bit higher) than the City of Los Angeles (4.6%), considerably higher than adjacent Lakewood (3.3%), Downey (3.8%) and Hawaiian Gardens (3.8%), as well as nearby Seal Beach (3.2%) and Los Alamitos (3.6%). LB's was the same as Signal Hill (4.7%). Some SE LB areas were higher, including Paramount (5.1%) and Compton (city) (6.8%). L.A. County overall (combines cities with highs and lows) was 4.3%. The City of Los Angeles' unemployment rate hit 13.8% in July 2010, meaning it's dropped 9.2% since that peak. The City of LB's unemployment reached 14.6% in July 2010, meaning it's dropped 9.9% since that peak. Quoted in the release, LB Mayor Robert Garcia said, "Our local economy and job growth [sic] is booming. In just a few short years, Long Beach has cut our unemployment rate in half and we have added thousands of jobs. It's one of the most impressive turnarounds of any big city in the country." [scroll down for further] |
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