Los Angeles Unemployment Rate Declines Thanks To Part-Time Jobs
Full-time work may be hard to find, but part-time jobs are on a continuous rise causing Los Angeles's unemployment rate to fall. The unemployment rate in Los Angeles dropped to 9.7 percent in June 2013 from 11.1 percent in June 2012. Economists attribute the job gains to a national growth in part-time jobs.
The Los Angeles County Economic Development Corporation reports a slow but steady growth in employment, most of which is part-time work in the leisure and hospitality sector and construction. However, many of these newly created jobs only pay minimum wage.
Some economists argue that part-time employment is stunting the growth of Los Angeles's economy by way of reduced purchasing power. At the same time, people have more free time on their hands as a direct result of reduced work hours. For many, working for less hours or pay is more of a necessity than it is a choice, but others are learning to see it as a blessing in disguise.
When people have more free time on their hands, they tend to indulge in hobbies a little more frequently. Some hobbies turn out to be quite lucrative. Brian Engelman, a 34-year-old Los Angeles transplant from Ohio, works part-time as a sales management consultant. The rest of his time is spent hosting radio shows at TheNewAmericanMedia.com and turning his hobby into a full-time career.
"I think the only way for me to provide for my family and future is to create a company and be my own boss because nobody else is going to take care of me better than me," says the radio personality. "There is nothing more powerless than tying your entire well-being and financial livelihood to a single entity other than yourself," says Engelman.
The decline in full-time employment could very well pave the way to innovation and entrepreneurship, both of which are needed to help accelerate future job growth.
Niki Payne is a freelance writer covering all things Entertainment in Los Angeles. Her work can be found on Examiner.com.
