Although the pace of U.S. employment growth slowed in March, the economy continued to expand, and signs suggested that more growth is expected towards the end of the year. Locally, Orange County’s economy continued to improve with an unemployment rate drop to 6.3% in March, down from 7.9% a year ago. Estimates indicate that 33,400 jobs were added in Orange County the past twelve months with 6,300 jobs in the trade, construction and manufacturing sectors. Container traffic at the Ports of Los Angeles and Long Beach increased 5.0% annually. Traffic at the Port of Long Beach was up 18.9% from a year ago while traffic at the Port of Los Angeles decreased slightly by 4.7%, a decline that can be attributed to slowed production in Asia due to the Chinese New Year holiday.
Source : Cushman & Wakefield