A wave of construction hiring this spring boosted real estate jobs in Southern California at a rate that was 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 in the month but less than 2,800 in 12 months, or a 0.4% drop . It was a busy month with job growth well above the pre-pandemic average of 7,540 new real estate workers in April 2015-19.
Construction received some help from large infrastructure projects and homebuilders who rushed to complete contracted sales. Returning workers to some offices boosted construction staffing services. But higher mortgage rates were a drag on the jobs of those in charge of transactions.
Which Southern California industry added the most jobs in April?
Here’s a look at the key real estate-related job niches in Southern California and how they fared in April…
Construction: 367,900 workers in various trades: 7,600 more in the month and 4,000 fewer in 12 months, or a drop of 1.1% in one year. The April average had an increase of 4,680 jobs.
Real Estate Services: 77,800 people managing transactions: 600 more in the month and 200 more in 12 months, or an annual gain of 0.3%. The April average had a gain of 640 jobs.
Construction services: 120,500 jobs in commercial property operations: 1,900 more in the month and 5,000 more in 12 months, or an increase of 4.3% in one year. The April average had an increase of 1,800 jobs.
Loan: 177,200 people in various credit jobs were flat for the month and 2,900 in 12 months, or a 1.6% drop. The April 2023 average had a loss of 240 jobs in one year. This niche remains 13,500 jobs below pre-pandemic levels.
Construction materials: 53,200 equipment and materials vendors: 300 increase in the month and 1,100 discount in 12 months, or a 2% drop. The April average had an increase of 660 jobs in a year.
Here’s the breakdown, geographically speaking…
Los Angeles County: 384,600 real estate jobs: 2,000 more in the month and 3,400 fewer in 12 months, or a 0.9% drop in one year. An average April in 2015-19 had 2,680 hires. Owned jobs equal 8.3% of all workers in Los Angeles.
Orange County: 227,900 real estate jobs: 3,000 more in the month and 200 more in 12 months, or a 0.1% annual gain. An average April in 2015-19 had 1,900 hires. Ownership jobs equal 13.3% of all OC workers.
Inland Empire: 184,100 real estate jobs: 5,400 more in the month and 400 more in 12 months, or a 0.2% annual gain. An average April in 2015-19 had 2,960 hires. Ownership jobs are equivalent to 11% of all IE workers.
PS: In all of Southern California, all other industries had 7.2 million workers in April, 41,700 more jobs. Over 12 months, non-real estate jobs increased 162,900. That’s a 2.3% gain. The share of the real estate sector 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 protected]