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Thursday, May 23, 2024
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OC Unemployment Stays at 3.7%

Gains widespread on 20,500 increase

Orange County’s unemployment rate stayed at 3.7% in October, unchanged from a revised 3.7% in September and above the 3.0% rate seen in October last year, according to the state’s Employment Development Department.

The state’s unemployment rate was 4.8% in October while the U.S.’s was 3.6%.

Nonfarm OC employment gained 20,500 jobs from September to October when 1.74 million were employed.

The county has surpassed the February 2020 pre-pandemic employment level of 1.68 million jobs.

Nine of the 11 industry sectors saw job increases.

Leading the job increase was the government sector, 5,800, particularly the local government, which added 3,900 jobs.  Professional and business services added 4,400 jobs while two areas each added 3,000 jobs: the private education and health services sector  and the trade, transportation and utilities sector.

Manufacturing was the only sector reporting a decline, 1,200 jobs.

About 18.2 million worked in California in October, an increase of 40,200 nonfarm payroll jobs from September and up about 285,200 jobs from a year earlier.

Ten of the 11 industry sectors added jobs month-over-month, led by private education and health services, 13,200.

Financial activities was the only sector declining, falling 300 jobs.

People receiving unemployment benefits fell by 11,784 to 356,668.

 

 

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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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