Monday, May 21, 2007

OC Unemployment Increased Slightly in April

The Orange County Employment Development Department recorded a slight uptick in unemployment for the county, rising from 3.4% in the month of March to 3.5% in April 2007.
According to EDD stats the labour pool of OC (all jobs) is 1.63 million. Out of that number 1.57 million are employed. Approximately 56,300 don't have work.
April 2007's rate of 3.5% signifies a 0.3% increase in unemployment over April 2006, when unemployment was just 3.2%.

California's statewide unemployment also increased to 5.1% in April, compared to 4.8% unemployment in March 2007 - this despite the addition of over 7,400 nonfarm jobs in April.

On the face of it, not an earth-shattering increase. But it is mid May. The OC economy is considered one of the strongest in the state of California, if not the world. Do these minor increases in unemployment indicate the beginning of something far more ominous brewing in the OC economy for 2007? May's unemployment numbers will be critical. Typically April and May have been extremely robust months for employment figures even when one seasonally adjusts the employment stats.

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