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Laguna Hills
Tuesday, Dec 6, 2022
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OC Unemployment Drops to 4.7%

The Orange County unadjusted unemployment rate fell to 4.7% in October, down from a revised 5.0% in September and below the year-ago estimate of 8.2%, according to the California Employment Development Department.That compares to an unadjusted unemployment rate of 6.1% for California and 4.3% for the U.S. during the same period.Total non-farm employment in OC rose by 19,800 jobs to 1.62 million in October.

Government reported the largest growth with an addition of 6,300 jobs, led by local government education.

Also increasing were professional and business services, up 4,800, mostly in administrative and support positions, particularly temporary help firms.

Also up were trade, transportation and utilities, up 2,400, and leisure and hospitality, up 2,200.

The state added 96,800 non-farm jobs in October for a total of 16.8 million jobs. In October of 2020, 16 million were employed.California has now regained 67% of the 2.7 million nonfarm jobs lost during March and April of 2020 as a direct result of the COVID-19 pandemic, the EDD said.

Ten of California’s 11 industry sectors gained jobs in October, led by professional and business services, up 39,500. Also gaining were leisure and hospitality sector, up 21,500, and trade, transportation and utilities, up 14,900.

There were 463,257 workers in California certifying for unemployment insurance benefits in October, down 30,730 from September. Concurrently, 59,879 new claims were processed in October, a decrease of 18,999 from September.

Go here for more updates on how OC companies are responding to the coronavirus pandemic.

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Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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