Jobless Rate Up Slightly to 3.1% but Still Below National Figure
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Orange County’s unemployment rate, pushed by seasonal layoffs in the retail industry, inched upward two-tenths of a point in February, to 3.1% from 2.9% in January, the state Employment Development Department reported Friday.
Because economists generally consider an unemployment rate of 5% or less to represent full employment, the slight increase in the Orange County jobless count is not considered to be a precursor of any coming economic difficulties, according to Dan Johnson, Orange County labor analyst for the EDD.
Johnson said the February rate generally is higher than January’s. He said he expects the jobless rate to remain relatively flat for March.
The statewide unemployment rate for February was 5.4%; both the national and Los Angeles County rates were 5.7%.
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