Orange County's unemployment rate remained stable at 3.5% in May of 2007.  The same as April but higher then 3.2% of May in 2006.  Construction added 2000 jobs, growing sectors included health and educational services that added 6,600 jobs.

It looks like Orange County is weathering the downturn in real estate and mortgage lending.  Over the last 12 months Orange County has lost 3,400 jobs in the financial sectors which includes the reeal estate and mortgage sectors, a drop of 2.4%.  It will still take several months to see if we've bottomed in the job losses in these sectors.

At 3.5% unemployment (Basically this puts us at Full Employment) it places Orange County 1st in Southern California and 2nd in the state with the lowest unemployment.

With a great job market in Orange County it will defintiely help keep the housing market stable as the real estate market works it's way through changes in tighter lending guidelines, the subprime colapse, foreclosures and higher interest rates.

For an Orange County Market Update click "My newsletter" to read the latest.  Please feel free to contact me for more info about the housing market,  selling your home, purchasing a home or an investment properties.  My Direct line is 888-877-6062.