Orange County Job Market Forecast
Here's a look the Orange County job market for 2011
The current belief is that the Orange County job market will start adding new jobs in 2011 and the economy may start to diminish some of its unemployment rates.
There is definitely some reason to be optimistic when looking at the recent mid-year economic forecast update that was released by Chapman University this past week. I've followed these reports over the past few years, especially since they come from a prestigious local Southern California source, and have seen them be fairly accurate without the inclusion of drastic unforeseen changes/events that may happen and disrupt the economy. For example, Sept. 11th, the Iraq war and such events cannot be predicted or can anyone be protected from feeling their effects, lets pray 2011 does not have any such events.
"Economists at Chapman University now expect a 1.2% drop in unemployment even after losing almost 18,000 jobs this previous year, a difficult contrast when there are supposed to be 1,000 jobs to be gained, as predicted, this December. This difficult trend in job losses is expected to give way to hiring in 2011 with a "weak but sustained" economic recovery, according to the accredited Southern California university. The report projects 1.5% over all job growth, or 21,000 new workers, by the end of next year. "The unemployment rate will be decreasing next year," said Esmael Adibi, director of the Anderson Center for Economic Research. "It's gonna go down, but very, very slowly."
New workers in education and health services are expected to lead the rise in job growth with a 2.6% increase this past year, or 2,000 jobs, and an additional 4,000 jobs to be added in 2011, according to the report. The trade, transportation and utilities sector, which has declined by nearly 3,000 jobs in 2010 -- is forecast to see a 2011 rebound with 5,000 added workers.
The news appears to be giving us some reason for hope in the Orange County job market for the New Year. For those who have lost their jobs through the recent economic downturn of these past few years, I have sympathy and know the feeling all to well. Keep looking for options and opportunities and before we know, this economy will get going again.
Let's just hope that reality is better than statistical predictions!
The current belief is that the Orange County job market will start adding new jobs in 2011 and the economy may start to diminish some of its unemployment rates.
There is definitely some reason to be optimistic when looking at the recent mid-year economic forecast update that was released by Chapman University this past week. I've followed these reports over the past few years, especially since they come from a prestigious local Southern California source, and have seen them be fairly accurate without the inclusion of drastic unforeseen changes/events that may happen and disrupt the economy. For example, Sept. 11th, the Iraq war and such events cannot be predicted or can anyone be protected from feeling their effects, lets pray 2011 does not have any such events.
"Economists at Chapman University now expect a 1.2% drop in unemployment even after losing almost 18,000 jobs this previous year, a difficult contrast when there are supposed to be 1,000 jobs to be gained, as predicted, this December. This difficult trend in job losses is expected to give way to hiring in 2011 with a "weak but sustained" economic recovery, according to the accredited Southern California university. The report projects 1.5% over all job growth, or 21,000 new workers, by the end of next year. "The unemployment rate will be decreasing next year," said Esmael Adibi, director of the Anderson Center for Economic Research. "It's gonna go down, but very, very slowly."
New workers in education and health services are expected to lead the rise in job growth with a 2.6% increase this past year, or 2,000 jobs, and an additional 4,000 jobs to be added in 2011, according to the report. The trade, transportation and utilities sector, which has declined by nearly 3,000 jobs in 2010 -- is forecast to see a 2011 rebound with 5,000 added workers.
The news appears to be giving us some reason for hope in the Orange County job market for the New Year. For those who have lost their jobs through the recent economic downturn of these past few years, I have sympathy and know the feeling all to well. Keep looking for options and opportunities and before we know, this economy will get going again.
Let's just hope that reality is better than statistical predictions!
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