graphrix
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Orange County loses 3,100 jobs over the month and 53,000 jobs over the year
The unemployment rate in the Orange County was 9.4 percent in November 2009, down from a revised 9.7 percent in October 2009, and above the year-ago estimate of 6.1 percent. This compares with an unadjusted unemployment rate of 12.2 percent for California and 9.4 percent for the nation during the same period.
Between October 2009 and November 2009, total nonfarm wage and salary employment declined from 1,417,500 to 1,414,400, a decrease of 3,100 jobs.
? Leisure and hospitality recorded the largest decline over the month, losing 2,100 jobs. Arts, entertainment, and recreation accounted for 67 percent of the decline, with all the losses coming from amusement, gambling, and recreation industries. Accommodation and food services also took a dip, losing 700 jobs.
? Professional and business services posted the second largest decline, dropping 1,200 jobs over the month. Losses occurred in many sectors within this industry.
? Trade, transportation, and utilities registered the largest month-over gain, adding 1,900 jobs. Losses in wholesale trade (down 500 jobs) and transportation, warehousing, and utilities (down 200) offset the seasonal gain in retail trade (up 2,600 jobs).
? Declines were also recorded in construction (down 1,100 jobs), manufacturing (down 1,000 jobs), financial activities (down 600 jobs), other services (down 400 jobs), and information (down 100 jobs). Mining and logging and educational and health services remained unchanged over the month.
Between November 2008 and November 2009, total nonfarm wage and salary employment declined by 53,000, or 3.6 percent.
? The biggest loss over the year occurred in trade, transportation, and utilities, which declined by 12,600 jobs. Retail trade accounted for nearly 63 percent of the loss, with losses within all its sectors. Wholesale trade (down 3,600 jobs) and transportation, warehousing, and utilities (down 1,100 jobs) also posted declines.
? Construction recorded the second largest decline over the year, as it dropped 11,700 jobs. Specialty trade contractors was responsible for 75 percent of the decline. Losses were also recorded in construction of buildings (down 2,500 jobs) and heavy and civil
engineering construction (down 400 jobs).
? Ten of the eleven industries posted losses over the year. Mining and logging was the only industry not to decline as it remained unchanged.
This is the most dismal report we have seen all year. Not a single positive remark, NONE. Ricky Bobby Jr. aka RoLar said that professional and business services had increased in the previous month, and that professional services lead us out of recession. Not only was he wrong about that growth, but it is trade, retail and transportation that signal a positive sign out of a recession. Which, according to this report was rather dismal. Especially when looking at the YOY numbers.
Don't get too excited about the unemployment rate decreasing either, because the labor force shrank by 25,300. Where or where did those people go? Detached workers maybe? If you take the Nov. 2008 labor force and increase it by 1% for natural population growth, then that means there are really 193,900 people unemployed, and that means that the unemployment rate really is closer to 11.7%.
Overall, not a good sign going into the holiday season.
The unemployment rate in the Orange County was 9.4 percent in November 2009, down from a revised 9.7 percent in October 2009, and above the year-ago estimate of 6.1 percent. This compares with an unadjusted unemployment rate of 12.2 percent for California and 9.4 percent for the nation during the same period.
Between October 2009 and November 2009, total nonfarm wage and salary employment declined from 1,417,500 to 1,414,400, a decrease of 3,100 jobs.
? Leisure and hospitality recorded the largest decline over the month, losing 2,100 jobs. Arts, entertainment, and recreation accounted for 67 percent of the decline, with all the losses coming from amusement, gambling, and recreation industries. Accommodation and food services also took a dip, losing 700 jobs.
? Professional and business services posted the second largest decline, dropping 1,200 jobs over the month. Losses occurred in many sectors within this industry.
? Trade, transportation, and utilities registered the largest month-over gain, adding 1,900 jobs. Losses in wholesale trade (down 500 jobs) and transportation, warehousing, and utilities (down 200) offset the seasonal gain in retail trade (up 2,600 jobs).
? Declines were also recorded in construction (down 1,100 jobs), manufacturing (down 1,000 jobs), financial activities (down 600 jobs), other services (down 400 jobs), and information (down 100 jobs). Mining and logging and educational and health services remained unchanged over the month.
Between November 2008 and November 2009, total nonfarm wage and salary employment declined by 53,000, or 3.6 percent.
? The biggest loss over the year occurred in trade, transportation, and utilities, which declined by 12,600 jobs. Retail trade accounted for nearly 63 percent of the loss, with losses within all its sectors. Wholesale trade (down 3,600 jobs) and transportation, warehousing, and utilities (down 1,100 jobs) also posted declines.
? Construction recorded the second largest decline over the year, as it dropped 11,700 jobs. Specialty trade contractors was responsible for 75 percent of the decline. Losses were also recorded in construction of buildings (down 2,500 jobs) and heavy and civil
engineering construction (down 400 jobs).
? Ten of the eleven industries posted losses over the year. Mining and logging was the only industry not to decline as it remained unchanged.
This is the most dismal report we have seen all year. Not a single positive remark, NONE. Ricky Bobby Jr. aka RoLar said that professional and business services had increased in the previous month, and that professional services lead us out of recession. Not only was he wrong about that growth, but it is trade, retail and transportation that signal a positive sign out of a recession. Which, according to this report was rather dismal. Especially when looking at the YOY numbers.
Don't get too excited about the unemployment rate decreasing either, because the labor force shrank by 25,300. Where or where did those people go? Detached workers maybe? If you take the Nov. 2008 labor force and increase it by 1% for natural population growth, then that means there are really 193,900 people unemployed, and that means that the unemployment rate really is closer to 11.7%.
Overall, not a good sign going into the holiday season.