The Employment Development Department reported that, Orange County’s unemployment declined to 25, 400 jobs in June 2008. The decline was the eight straight months of yearly job loss since November.

The unemployment rate in Orange County was 5.2 percent in June 2008, up from a revised 4.8 percent in May 2008 and above the year ago estimate of 4.0 percent.

Reportedly, total non farm wage and salary employment rose 1,494,500 to 1,496,500 between May and June 2008. This was an increase of 0.1 percent on a monthly basis.

Trade, transportation and utility posted the largest month-over increase with 1,300 jobs overall, followed by retail, leisure and hospitality. Retail sector posted nearly 85 percent of the growth with a gain of 1,200 jobs overall. Leisure and hospitality grew by 1,200 jobs.
 
Despite such significant growth in jobs on monthly basis, the county’s yearly non farm wage and salary employment declined 25,400 jobs in June 2008. The decline jumped about 1.7 percent, as compared to June 2007. 

Financial, construction, manufacturing and government sectors posted the significant year-over decrease in jobs. The financial activities accounted the largest year-over loss with 12,800 jobs between the period of June 2007 and June 2008.

Construction sector posted the second largest decline with 6,100 jobs, followed by manufacturing, professional and business services each recorded overall job loss of 4,900.

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