Unemployment Rate Hits Record Low

The unemployment rate in Orange County is the lowest that it has been since 2000, according to a new report from JLL. In April and May of this year, unemployment in the market fell to 2.6%, the lowest rate in nearly 20 years. In the last year, the market gained 17,300 jobs, job gains of 1.1%. Educational and health services led the growth, adding 9,000 of the new jobs. The growth is having a big impact of office leasing activity. We sat down with Curtis Ellmore, SVP at JLL, to talk about the low unemployment and how it is impacting the office market.

GlobeSt.com: What is driving employment growth in Orange County?

Curtis Ellmore: There is a great quality of life, so people want to live here. There is access to great schools and universities, John Wayne Airport and great access to talent. People are coming here for that lifestyle.