Orange County added jobs in March even as the local unemployment rate rose slightly for the month, according to the California Employment Development Department. A higher rate despite more jobs often occurs when the pace of employment growth is less than the increase in the labor pool, which is often driven by overall demographic trends. EDD data show 1,372,600 persons employed in non-farm jobs in OC in March, an increase of 3,100 compared with February. The county’s monthly unemployment rate rose to 8.1% from 8% the previous month. The state employment picture also was mixed. California’s unemployment rate rose to 11% from a previous 10.9%, according to the EDD, while nonfarm jobs increased by 18,200 jobs to a total 14,237,300.
Early-stage company investor Papa Bello Enterprises relocated its headquarters from Corona to an 82,000-square-foot facility in Yorba Linda. Company holdings include marketing firms Blow Me Away Media and Mamas Direct.
An Orange County judge vacated an order by the city of Santa Ana that would have forced the owners of the long-shuttered Saddleback Inn property to tear down the property. Judge Kirk Nakamura said the city must give Saddleback Inn LLC an opportunity to repair the building before a tear-down order can be enforced.
ICU Medical Inc. of San Clemente, which makes disposable medical connectors and other devices, posted a 6% decline in first-quarter profit to $7.6 million. Quarterly revenue rose 6% to $75.5 million. Both figures outpaced consensus expectations among analysts. ICU reaffirmed its forecast for annual profit this year of $35.1 million to $38.7 million. ICU said it expects full-year revenue of $318 million to $330 million.
Online videogame developer Blizzard Entertain-ment Inc. said it’s beefing up staff for an eSports unit at its Irvine headquarters. The unit taps into a spreading trend of eSports, which turns games such as Bliz-zard’s StarCraft II into spectator sports with professional game players competing in tournaments viewed by fans.
WNC & Associates Inc., Irvine Company and the Bascom Group LLC are among the nation’s 50 biggest apartment owners, according to a recent report by the National Multi Housing Council. Irvine-based WNC & Associates, which specializes in affordable housing, ranks 19th largest as owner of 51,224 apartments in 45 states; Newport Beach-based Irvine Co. is 31st in the rankings with 44,545 apartments, most in Orange County; and Irvine-based Bascom Group was No. 50 with 24,877 units.
The Best Buy store in The District at Tustin Legacy in Tustin will close in the next month, but another in the nearby Tustin Market Place will survive the electronics chain’s shutdown of 50 stores nationwide. Workers unable to secure a position at another Best Buy store will be laid off.
Toyota Material Handling USA is relocating its headquarters from Irvine to Columbus, Ind. The company is a unit of Japan-based Toyota Industries Corp. and sells forklifts and pallet trucks.
Husband and wife Stuart and Hong “Rose” Carson of San Clemente pleaded guilty to bribing officials connected to U.S. and foreign companies to secure contracts for Control Components Inc. in Rancho Santa Margarita. Federal prosecutors said the company paid almost $6.9 million between 1998 and 2007. Stuart Carson was the company’s president, and Hong Carson was its sales director for China and Taiwan. Control Components was ordered to pay $18.2 million in 2009 after a guilty plea to similar charges involving contract bribes in more than 30 countries.
Santa Margarita Water District General Manager John Schatz retired after 18 years with the district and 35 years of industry service. Schatz was one of the state’s longest serving water district general managers, previously serving as general manager of the Jurupa Community Services District in western River-side County from 1984 to 1994. He also had worked for the Rancho California Water District in Temecula from 1977 to 1984 in a variety of positions.
ECONOMIC INDICATOR
MIXED: OC’s residential real estate market in March, when sales rose and prices fell compared with a year earlier. A total of 2,856 houses and condos were sold during the month, up 9.2%. The median price fell 7% to $400,000, according to DataQuick.
