A spring construction hiring spree pushed Southern California real estate jobs to a rate 38% faster than the seasonal norm.
Property-related employment in the real estate industries in Los Angeles, Orange, Riverside and San Bernardino counties was 796,600 in April, up 10,400 for the month but down 2,800 year-over-year. a decrease of 0.4%. It was a busy month with job growth well above the pre-pandemic average of 7,540 new real estate workers for April 2015-2019.
Construction has received help from major infrastructure projects and homebuilders rushing to secure contract sales. Workers returning to some offices have bolstered building services staffing. But higher mortgage rates have dampened the employment of transaction managers.
Which Southern California industry added the most jobs in April?
Here’s a look at the top real estate job openings in Southern California and how they fared in April…
Construction: 367,900 workers in various trades – up 7,600 for the month and down 4,000 year-over-year, down 1.1% year-on-year. The average April saw an increase of 4,680 jobs.
Real estate services: 77,800 people processing transactions – 600 more for the month and 200 more over 12 months, a gain of 0.3% year-on-year. The average month of April saw a gain of 640 jobs.
Building services: 120,500 jobs in commercial real estate, ie + 1,900 over the month and + 5,000 over 12 months, ie + 4.3% over one year. The average month of April saw an increase of 1,800 jobs.
Ready: 177,200 people in various credit works were flat for the month and 2,900 year-over-year, down 1.6%. The April 2023 average recorded 240 job losses year-on-year. This niche remains 13,500 jobs below pre-pandemic levels.
Construction materials: 53,200 equipment and materials vendors – up 300 for the month and down 1,100 year-over-year, down 2%. The average April saw a year-on-year increase of 660 jobs.
Here is the breakdown, geographically speaking…
Los Angeles County: 384,600 real estate jobs – up 2,000 on the month and down 3,400 year-over-year, down 0.9% year-on-year. An average April from 2015 to 2019 had 2,680 hires. Real estate jobs account for 8.3% of all LA workers.
Orange County: 227,900 real estate jobs – up 3,000 for the month and 200 year-over-year, a 0.1% year-over-year gain. An average April from 2015 to 2019 had 1,900 hires. Real estate jobs account for 13.3% of all OC workers.
Inner Empire: 184,100 real estate jobs – up 5,400 for the month and 400 year-over-year, a 0.2% year-over-year gain. An average April from 2015 to 2019 had 2,960 hires. Real estate jobs account for 11% of all EI workers.
PS: In Southern California, all other industries had 7.2 million workers in April, an increase of 41,700 jobs. Over 12 months, non-real estate jobs are up by 162,900. This is a gain of 2.3%. The share of real estate in local employment was 9.9% last month.
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at email@example.com