The job market in Los Angeles
The job market in Los Angeles is dynamic, offering a wide range of opportunities across various industries. However, it can also be competitive and subject to economic fluctuations and extremes. This is the city where people go to hit the big time but it's also a place where it's possible to fall on hard times. Keep reading to get a better grasp of the labour market in this complicated city.
The contradictions in LA's economy
With an unemployment rate of 5.7%, finding a job in Los Angeles can be competitive. However, the city is renowned for its unrivalled support of creativity, innovation, commerce, and entrepreneurship, boasting still a slew of full-blown industries.
The real challenge for job seekers in Los Angeles may not be employment itself — but rather getting a job with a decent salary to support a desired lifestyle. Over half of LA's residents do not earn incomes that support a comfortable lifestyle in a city that is one of the most expensive in the US.
Los Angeles' economy is one of the biggest and most enviable in the country; but it also supports one of the largest and most diverse populations, so it's a zero-sum economic reality for many residents. However, the city continues to make dreams come true like only a few other cities can – as well as crushing plenty of dreams, too.
The star-studded city provides nearly unparalleled opportunities for people dreaming of stardom and also hosts the largest manufacturing base in the country. The port of Los Angeles is one of the most pivotal trade and commerce hubs in the Western Hemisphere, handling billions worth of goods every day.
The city's economy is also driven by a heavy concentration of multinational corporations, financial institutions, business services, and utility companies.
As such, the city's economy is highly diverse and technology-driven, geared towards trade, manufacturing, entertainment, and technological fields. Its support for creativity and innovation has earned it the moniker “the new Silicon Valley”.
The competition in LA's labour market
LA is synonymous with the entertainment industry, but other popular industries in the city include IT, green technology, trade and logistics, healthcare, and data science.
The biggest challenge in the job market for expats in Los Angeles is obtaining a work permit. Another challenge is the need to convince employers to sponsor your foreign work visa as an expat. You will find it even harder to get a job in Los Angeles if you are not proficient in English.
It is always advisable for expats to secure a job before they arrive in the city, as this is the easiest way to get a visa and work permit. If you don't have a job waiting for you, then you must be prepared for a rigorous job search to find the perfect job. You need a CV and cover letter that marks you apart from other applicants.
You can find tons of opportunities through temp agencies and staffing companies, networking with friends and acquaintances, newspaper ads, sites like LinkedIn, Indeed, and job boards, etc.
Wages in Los Angeles
The average salary in Los Angeles sits around $85,000. Software engineers earn an average of $103,825; mechanical engineers earn around $86,300; and executive assistants make close to $66,000. However, a comfortable lifestyle in the city often requires a six-figure income.
Based on the findings of a recent study, it has been determined that to lead a comfortable life in Los Angeles, a resident without children should have a post-tax income of $76,710. This assessment is based on data from the MIT Living Wage Calculator, which takes into account various factors such as housing costs, expenses related to food, transportation, healthcare, and more, to calculate the income needed for a comfortable standard of living in the city.
