Los Angeles, California (PRWEB) May 22, 2013
The California Employment Development Department announced that Los Angeles County has officially reached an unemployment rate in the single digits. April’s jobless rate was 1.3 percent lower than a year ago, coming in at 9.9 percent.
This is the lowest that unemployment has been since December 2008, when the recession began.
Job growth is also up, with 76,500 jobs added in the last year. That’s a 2 percent growth, which means Los Angeles is outpacing the rest of the United States in this area.
Fields seeing job growth include educational and health services, with 19,100 jobs added, leisure and hospitality with 15,600 added, and information technology with 13,200 added. The largest decline in jobs was the government sector, which lost 9,700 jobs.
The state of California is seeing similar growth, with a 1.9 percent job increase over the last year resulting in 273,100 jobs being added. The state’s unemployment rate is also down to 9 percent.
This is a sign of improvement for California residents, but not everyone is benefitting. Many positions require specialized training or skills. Those who have not attended college or who cannot afford skills training are left with lower-level and lower-paying jobs.
For Los Angeles residents who are still struggling because they are unemployed or underemployed, there is now an alternative way to make ends meet: auto title loans in Los Angeles. These are instant cash loans of up to $50,000 that are determined by the value of the borrower’s vehicle, not his or her credit score.
Auto title loans are ideal for those who have flawed credit reports but need access to fast cash. They are available to the borrower within 24 hours of loan approval and can be used for anything from paying unexpected expenses to covering the cost of education or specialized training. They feature low interest rates and flexible repayment options, and borrowers are able to keep and continue driving their vehicles as they make monthly payments.
Local residents who are still struggling are encouraged to apply online for an auto title loan in Los Angeles.