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Orange County COVID-19 Jobs Picture Promising
California’s employment situation has shifted from high gear a few months back to a much cloudier picture, thanks to the impact from the coronavirus pandemic and stay-home orders. JLL researchers analyzed the Worker Adjustment and Retraining Notification (WARN) numbers in Orange County for March 16, 2020 to May 31, 2020, and the findings are interesting.
One of the key revelations is that 90% of layoffs are of a temporary basis, leaving open the possibility for employees to return to their jobs, while only 0.4% of layoffs are a result of permanent site closures. Layoffs from all industries peaked in mid-April while restaurant, life sciences (96% from dental device companies), leisure/entertainment, and manufacturing industries experienced the highest number of layoffs in May.
Across all commercial property types, retail occupiers by far have recorded the most layoffs and office occupiers have experienced the least, reports JLL. Excluding dental offices, office occupiers account for 9% of total layoffs.
More than half of all layoffs occurred at restaurants, travel, and retail storefronts. Restaurants saw 10,720 layoffs accounting for 19% of the layoffs, hospitality 10,442 layoffs accounting for 18%, and retail had 8,207 layoffs accounting for 14%. JLL reports that 95% of the restaurant and hospitality layoffs are temporary.
*Photo credit: Albert Campbell / Shutterstock.com
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Economy




