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June 2014 Metrics

Overview:
  • Orange County’s unemployment has hit record lows in May 2014, falling to just 4.9 percent – a drop of 0.1 percentage points since April 2014, and 0.6 points below last May’s. State unemployment saw a similar decline of 0.2 percentage points to a May 2014 total of 7.1 percent, while national unemployment increased by 0.2 percentage points to 6.1 percent. This makes Orange County’s unemployment rate 2.2 points below the state rate and 1.2 points below the national rate. This is the lowest unemployment Orange County has enjoyed since May 2008, basically returning unemployment to pre-recession levels. Most other Californian counties, with the exception of Los Angeles, also experienced slight unemployment drops since April.
  • Labor force participants in Orange County dropped significantly after March 2014, falling by over 23,000 to a total of 1.601 million in April 2014. Currently, the total labor force for May 2014 is 1.604 million, just 600 less than the previous May. Total employed increased by 4,500 month-over-month.
  • The California Employment Indicator Index took a moderate hit, falling from a revised 127.8 reading in quarter one of 2014 to 123.6 in quarter two of 2014. Coming off of the six-year high in the previous quarter, the index’s decline suggests positive but slightly slower job creation than expectations had previously indicated.
  • Orange County industry employment in May 2014 saw growth stem from surprising areas; while the usual high-growth industries of Construction and Professional Services actually decreased since April 2014, areas such as Transportation, Warehousing & Utilities and Leisure & Hospitality saw 1.4 percent and 1.2 percent growth respectively. Durable Goods Manufacturing saw slight growth, while Nondurable Goods held fast with no month-over-month change. Leisure & Hospitality led month-over-month growth with over 2,200 new hires, largely a seasonal trend. Although Construction typically leads year-over-year growth, May 2014 saw Professional & Business Services lead with 7,800 new hires since May 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


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

The full details of Orange County’s unemployment, employment, and labor force totals are detailed in the table below, showing changes since the previous month and since the previous year. The unemployment rate is singled out and compared to other counties and regions.

Source: Chapman University



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




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

This indicator breaks down Orange County’s employment by industry for the current month, comparing changes in employment levels since the previous month and the previous year.

Source: California Employment Development Department



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