Orange County’s running yearly job losses hit a high in November as employers here shed 38,400 workers, a 2.5% decline.
The yearly job loss tops October’s 35,100 decline. Job losses in October and November are at levels not seen since the early 1990s.
Before October, the county’s job losses had ranged between 25,000 and 30,000 each month from a year before.
The county’s employment rate was 6.1% in November, unchanged from October, which was revised up from 6%.
The last time the unemployment rate was this high was during the early 1990s recession.
From October to November, the county lost 2,100 jobs for a total of 1.47 million workers.
On a yearly basis, financial jobs led the decline with a 9,300 decline. Professional and business services lost 8,700 jobs.
Healthcare was among the few growing sectors with the addition of 1,600 jobs.
From October to November, leisure and hospitality reported the largest decline of 2,400 jobs as the recession catches up with the tourism industry.
Manufacturing, financial and professional and business services also saw monthly losses.
