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an lower rates revive Southern California’s real‑estate job market? A spreadsheet of Los Angeles, Orange, Riverside, and San Bernardino counties shows 714,900 property‑linked jobs in August—24,100 fewer than a year earlier, a 3 % drop. The sector has lost 46,800 jobs (6 %) since its July 2022 peak of 761,700 after the Fed ended pandemic‑era support. Demand, 9 % of the region’s 7.98 million workers, fell as borrowing costs rose.

    The Fed’s first 2025 rate cut on Sept 17, with hints of more, could lift local real‑estate employment. Southern California hiring rose 51,400 in the year to Aug; the four‑county area added 71,600 jobs.

    August segment losses: Construction 359,800 (‑16,400, ‑4 %); Lending 83,500 (‑1,900, ‑2 %); Real‑estate services 114,500 (‑2,900, ‑2 %); Building supplies 49,600 (‑1,100, ‑2 %); Building services 107,500 (‑1,800, ‑2 %).

    County cuts: Los Angeles 330,800 (‑10,100, ‑3 %); Orange 210,600 (‑5,600, ‑3 %); Inland Empire 173,500 (‑8,400, ‑5 %). Each is 6–9 % below its post‑Great‑Recession high.

    Jonathan Lansner, business columnist, Southern California News Group, [email protected]