Sluggish home sales and construction in the wake of higher interest rates have pumped the brakes on Southern California real estate hiring. Property-linked companies have cut their seasonal hiring pace by more than a third in March for Los Angeles, Orange, Riverside, and San Bernardino counties, the Orange County Register reported, citing state employment figures.
Before the pandemic, between 2015 and 2019, an average of 3,460 jobs were added each March. In the past year, local real estate work grew by 7,400 jobs- 46 percent fewer than the typical 13,800 jobs added each year since 2010, according to the Register.
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