In February, the unemployment rate in Orange County was 3.7%, down from 4.1% a year ago. In the last year, total nonfarm employment increased by 17,000 jobs, or an annual rate of 1.1%. The trade, transportation and utilities sector added 2,900 jobs while construction was up 2,000 jobs. The labor market will experience additional improvements over the next two years with an anticipated annual increase in nonfarm jobs of 2.0% this year before slowing slightly to 1.9% in 2018. Meanwhile, Orange County’s GDP is expected to accelerate to 3.2% in 2017 and maintain that rate in 2018.
Source : Cushman & Wakefield