UNEMPLOYMENT NEWS
Untitled Page
O.C.'s unemployment rate falls to 9.1 percent
Number is down from November, but it's up from 2008, says EDD.
By Kristen SchottPublished: January 22, 2010 10:17 AM
Photo courtesy of FotoliaOrange County's unemployment rate fell to 9.1 percent in December, down from a revised 9.6 percent in November, according to stats released by the Employment Development Department. The rate is still significantly higher than last year's 6.6 percent.
The decline in the unemployment rate is mainly due to the fact that another 11,100 O.C. workers have left the labor force, according to Dr. Wallace Walrod, the Orange County Business Council's vice president of economic development and research.
"A lot of people stopped actively looking for work due to the holiday time of year and their perception that employers weren't hiring around the holidays," he says.
The region's employers added a total of 600 jobs last month, with trade, transportation and utilities posting the largest uptick. The sector gained 1,500 jobs in December.
Leisure and hospitality also increased by 1,300 jobs. The majority of the gain – 92 percent – was reported in the food services and drinking places sector, according to the EDD. Other increases were seen in the professional and business services and financial activities industries.
But, construction and government each cut 600 positions, and declines were also reported in manufacturing and the information sector, among others.
What's more, there hasn't been a significant amount of hiring in the private sector, adds Walrod, because of concerns over the state budget deficit and the business climate.
NEXT PAGE >>
Related headlines
O.C. apartment rent rates drop 6.7 percent
O.C.'s median home price jumps 9.6 percent
Michael Jordan named president of The Beachcomber
|
||||
|
Photo courtesy of Fotolia The decline in the unemployment rate is mainly due to the fact that another 11,100 O.C. workers have left the labor force, according to Dr. Wallace Walrod, the Orange County Business Council's vice president of economic development and research. "A lot of people stopped actively looking for work due to the holiday time of year and their perception that employers weren't hiring around the holidays," he says. The region's employers added a total of 600 jobs last month, with trade, transportation and utilities posting the largest uptick. The sector gained 1,500 jobs in December. Leisure and hospitality also increased by 1,300 jobs. The majority of the gain – 92 percent – was reported in the food services and drinking places sector, according to the EDD. Other increases were seen in the professional and business services and financial activities industries. But, construction and government each cut 600 positions, and declines were also reported in manufacturing and the information sector, among others. What's more, there hasn't been a significant amount of hiring in the private sector, adds Walrod, because of concerns over the state budget deficit and the business climate. NEXT PAGE >> Related headlines O.C. apartment rent rates drop 6.7 percent O.C.'s median home price jumps 9.6 percent Michael Jordan named president of The Beachcomber |
||||
