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16 years ago

Thanks, Rich (and Mr
Thanks, Rich (and Mr Lansner). It was very interesting to see a 1% drop in OC employment from June 2006 to June 2007, or about 15K job losses out of 1.5 million total jobs. Of that 15K, about 10K were lost in Finance, and 4K in contruction. Makes you wonder how bad the 3Q and 4Q 2007 numbers will be, after the mortgage finance industry started to really unravel. My guess is that when in July 2008 the data for 4Q2007 comes out, we’ll see that we’ve lost a net 40-50K jobs. That’s a lot of empty apartments and homes, and it seems likely that 2008 will see more damage as government cutbacks start to bite, and businesses that relied partly on housing finance and construction and MEW cut back just a little more.

Patient renter in OC