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OC Unemployment Falls to 2.5%

Gains 4,000 jobs, led by retail

Orange County’s unemployment rate fell to 2.5% in December from a revised 3.0% in November and below the 3.7% rate seen in December last year, according to the state’s Employment Development Department.

The state’s unemployment rate was 3.7% in December while the U.S.’s was 3.3%.

Nonfarm OC employment gained 4,000 jobs from November to December when 1.7 million were employed.

The county has surpassed the February 2020 pre-pandemic employment level of 1.68 million jobs. The OC economy added 70,300 jobs since December 2021.

Seven of the 11 industry sectors saw job increases.

Leading the job increase was the trade, transportation and utilities sector, which added 2,900 jobs, led by a 1,500 job increase in retail trade.

Leisure and hospitality added 2,100 jobs, with the majority coming in accommodation and food services catories.

Four sectors had declines, led by professional and business services, down 3,100 jobs.

About 17.8 million worked in California in December, an increase of 16,200 nonfarm payroll jobs from November and up about 621,400 jobs from a year earlier.

Eight of the 11 industry sectors added jobs month-over-month, led by education and health services, up 8,200 jobs.

Trade, transportation and utilities was the only sector to post job loss, down 11,100 jobs.

People receiving unemployment benefits rose by 19,702 to 326,252.

 

 

 

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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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