Orange County has the lowest unemployment rate in Southern California. According to a recent report from JLL, Orange County has a 2.5% unemployment rate, compared to 4.4% in Los Angeles and 2.8% in San Diego. Next year, however, job growth in the market will likely begin to plateau as job counts reach record levels.

“Growth in employment will remain steady, at or around current levels mainly because of the labor constraints that we have in the market,” Paulina Torres, research analyst at JLL, tells GlobeSt.com. “We continue to have one of the lowest unemployment rates in the nation and are already significantly pulling labor from surrounding counties.”

Orange County doesn’t only lead employment numbers; it is also the regional leader for wage growth, according to the same study. “We definitely expect income levels to remain strong simply because Orange County has historically had a higher income base that’s a major portion of who lives and works here,” says Torres. “Because a shift in the quantity of high paying jobs that were concentrated in financial services before the recession, has since been spread to tech and life sciences, the Orange County market has managed to hold a constant level of high paying jobs.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.