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Orange County job market continued to see layoffs through the summer. Real estate and aerospace were among two of the industries to see a surge in layoffs in July and August, according to data from JLL. Real estate in particular saw a 60% increase layoffs during these two months.

“While 70% of the real estate layoffs were recorded in July and August, the effective date of these layoffs were in May,” Jared Dienstag, research manager at JLL, tells GlobeSt.com. “Majority of the real estate layoffs have stemmed from a company that owns several asset types including hotels and retail properties of which have been the hardest hit industries during this economic downturn. Real estate layoffs only account for 6 percent of total layoffs.” Most of these layoffs have come from companies with significant exposure to the retail and hospitality industries. According to Dienstag, they make up half of the layoffs in the sector.

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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.

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