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Orange County Unemployment Hits 2.6 Percent, a 19-Year Low

Wednesday, May 23, 2018

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Employers in Orange County added 29,400 jobs in the 12 months ending in April as the unemployment rate hit 2.6 percent, a 19-year low.

Here are 12 trends to know from the state Employment Development Department’s monthly jobs report for O.C. …

1. Total jobs: 1.64 million were employed in April vs. 1.61 million a year ago and an average of 1.55 million the last five years. Employers in Orange County added 11,100 workers vs. March.

2. Job growth: Up 1.83 percent in last year vs. 1.95 percent growth in the previous 12 months; and 2.26 percent annually in the last five years.

3. Unemployment rate: 2.6 percent in April vs. 2.8 percent the previous month and 3.4 percent a year earlier. Joblessness has averaged 4.56 percent last five years. The last time April unemployment was lower was 1999.

4. The number of jobless: 41,800 last month vs. 54,100 a year ago and an average of 72,355 the last five years.

5. Elsewhere: 3.8 percent comparable unemployment rate for California and 3.7 percent nationwide.

April trends in key employment sectors in Orange County employment sectors …

6. Private-industry: 1,470,400 jobs last month, up 1.93 percent in last year vs. up 2.11 percent in previous 12 months; and 2.33 percent five-year average growth.

7. Government: 165,700 jobs last month, up 0.98 percent in last year vs. 0.61 percent in previous 12 months; and 1.70 percent five-year growth.

8. Goods-making: 260,300 jobs last month, up 0.39 percent in last year vs. 2.77 percent in previous 12 months; and 2.06 percent five-year growth.

9. Service industries: 1,375,800 jobs last month, up 2.11 percent in last year vs. 1.80 percent in previous 12 months; and 2.3 percent five-year growth.

10. Note: There were 73,500 more people working at jobs in Orange County in April than there were Orange County residents employed. This gap averaged 32,308 in the last five years and helps explain added traffic congestion.

Combined April trends in Los Angeles, Orange, Riverside and San Bernardino counties …

11. Total jobs: 7.61 million, up 143,100 in a year. That’s 1.92 percent one-year growth vs. 2.3 percent average growth last five years.

12. 4-county unemployment rate: 3.7 percent vs. 3.9 percent the previous month and 4.3 percent a year earlier. Regionally, 323,700 were jobless last month vs. an average 532,247 during the last five years.


By Jonathan Lanner, Orange County Register

Photo: Mark Right mire, The Orange County Register | SCNG

 

Category: Economic Development

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