According to the study, Orange County should end the year with about 25,000 more jobs. The economists are slightly more optimistic for 2013. They estimate that almost 34,000 jobs will be added in the county then.
While the job estimates seem meager, they equate to about 2% growth in employment for 2012 and almost 2.5% for 2013. If the local economy grows as predicted, Orange County unemployment should drop more than half a point to 7.3%.
Roughly 33% of the job growth is expected to come from the professional and business services sector. The balance is expected to come from leisure, construction, and utilities sector.
The economic growth should boost home sales, which will be good news for homeowners. However, the study is predicated on the extension of the Bush tax cuts for at least the first quarter of 2013. Although, it does take into account federal tax increases and budget cuts for the remainder of 2013.
The report is the first to forecast Orange County’s economic environment for 2013. A report from Chapman University is expected after Thanksgiving.
http://NorthOrangeCountyRealEstate.com features real estate from Southern California. However, their focus is primarily Orange County real estate and, in particular, Fullerton real estate.