09/21/2021

Economist says job creation ‘miserable’ as Orange County market slows

Orange County’s job growth has slowed dramatically as the county has neared what economists consider full employment and the cost of housing continues to rise.

Payrolls grew by 1.1 percent to 1,572,300 from January 2016 to January this year, state employment officials said Friday.

Last March the year-over-year job growth rate stood at 3.1 percent.

The current job creation rate is “miserable,” said Chapman University economist Raymond Sfeir, adding that the number of Orange County residents who were employed in January was only 3,100 more than a year earlier, according to the U.S. Census Bureau’s household survey.

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