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April 2014 Metrics

Overview:
  • Orange County’s unemployment has drastically fallen since the beginning of 2013. Unemployment throughout the first quarter of 2014 has held firm at a relatively low rate; Orange County’s 5.8 percent unemployment in March 2014 is 2.6 points below the state unemployment rate of 8.4 percent, and 1 point below the national unemployment rate of 6.8 percent. Although all three rates are still higher than the five-year lows seen in December 2013, they have remained virtually unchanged since January 2014. Orange County’s unemployment rate for March 2014 is 0.5 percentage points below March 2013’s, and is equal to the unemployment rate in August 2008.
  • The California Employment Indicator Index made a slight jump forward from a revised 122.5 in the fourth quarter of 2013 to 128.4 in the first quarter of 2014, a six-year high for the index and strong evidence for continued job growth in the state. Job growth is considered positive with an index above 100.
  • Orange County industry employment in March 2014 saw significant growth in Construction, Professional Services and Education/Health employment month-over-month at the expense of losses in Financial Activities, Retail Trade, and Transportation employment. Professional Services led growth with 1,600 new hires since February 2014, followed closely by Construction and Education/Health with 1,400 new hires each. Comparing March 2014 to March 2013, the same industries lead employment growth: Professional Services with 10,000 more employed, Construction with 9,100 more employed, and Education/Health with 6,200 new employed. Financial Activities employment is down significantly in terms of year-over-year growth, falling by 3,200 laborers since March 2013.
  • In 2012, California’s population growth relative to the year 2000 recovered from the growth rate dip in 2008. As of 2013, Orange County has now done the same. Orange County’s relative population growth increased to 9.4% for 2013 compared to 8.6% for 2012, while the state’s growth in 2013 was 13.2%.

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Table of Contents (click to jump to a specific measure):



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Orange County, California and US Unemployment
Rates, 2008-2014

Three-Year Trend in Orange County, California  Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator measures the unemployment rate for Orange County, California and the United States over the since January 2007.

Source: Source: California Employment Development Department
http://www.labormarketinfo.edd.ca.gov/
http://www.calmis.ca.gov/file/lfmonth/oran$pds.pdf

http://www.bls.gov/news.release/empsit.nr0.htm


California Employment Indicator Index
California Employment Indicator Index: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator measures Chapman University’s Employment Index Indicator Index. The California Index of Leading Employment Indicator is comprised of variables found to have a significant influence on California’s payroll employment growth. These variables include movements in the lagged values of real GDP, real exports, the S&P 500 and the state’s total construction spending. A weighted average of changes in these variables, based on their relative importance in explaining state employment growth, is used in constructing the index.

Source: Chapman University



Orange County Industry Trends by Month 2009 - 2014
Orange County Industry Trends by Month: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The Orange County Industry Trends indicator measuring monthly changes for industries shows the more immediate and recent trends in industry employment for Orange County.

Source: California Employment Development Department
http://www.calmis.ca.gov/file/indhist/oran$hws.xls




California Employment Indicator Index and Payroll Employment
California Employment Indicator Index and Payroll Employment : Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator shows the Employment Indicator Index’s relationship with Payroll Employment year over year percentage change. Understanding how the Employment Indicator Index is related to year over year Payroll Employment change demonstrates how adjustments in the Employment Indicator Index predicts upcoming trends in Payroll Employment.

Source: Chapman University
http://www.chapman.edu/images/userImages/cwilliam/Page_4388/CAEmploymentIndicator_2010Q1.pdf




Orange County Annual Industry Trends 1990-2014
Orange County Industry Trends 1990-2009: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The Orange County Industry Trends indicator measuring annual changes for industries shows the big-picture long-term trends in industry employment for Orange County.

Source: California Employment Development Department
http://www.calmis.ca.gov/file/indhist/oran$haw.xls




Orange County Population Trends
Orange County Population Trends: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This indicator measures current population growth relative to times in the past for Orange County and California. Orange County has shown faster population growth than the State as a whole.

Source: US Census Bureau and California Department of Finance



Online Help-Wanted Ads Posted by Employers
Orange County Population Trends: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

This measures the number of Help-Wanted advertisements posted online by Orange County employers as measure by the Employment Development Department.

Source: US Census Bureau and California Department of Finance



Temporary Employment: ASA Staffing Index

Orange County Population Trends: Auxiliary aids and services are available upon request to individuals with disabilities.  TDD line: (714) 834-7163

The ASA Staffing Index monitors weekly changes in temporary and contract employment for the United States. Surveys are modeled after the quarterly ASA Staffing Employment and Sales Survey, and give an indication of fluxuaitons in temporary employment since June 2006.

Source: American Staffing Association



Developed and Maintained in partnership with Orange County Business Council
The Orange County Workforce Investment Board is an equal opportunity entity. Auxiliary aids and services are available upon request to individuals with disabilities.
TDD line: (714) 834-7163