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O.C. building supply jobs at 10-year low
April 27th, 2009, 12:30 am · 21 Comments · posted by Jon Lansner
| Job slice | Last mo. | Vs. ‘08 | Vs. ‘08 |
|---|---|---|---|
| Construction | 78,100 | -16,500 | -17.4% |
| • Construct buildings | 19,400 | -2,900 | -13.0% |
| • Heavy construction | 7,200 | -1,000 | -12.2% |
| • Specialty trades | 51,500 | -12,600 | -19.7% |
| Lending activities | 31,800 | -4,600 | -12.6% |
| • Bank lending | 18,200 | -900 | -4.7% |
| • Non-bank lending | 9,100 | -3,600 | -28.3% |
| • Lending support | 4,500 | -100 | -2.2% |
| Other finance | 10,100 | -400 | -3.8% |
| Real estate/leasing | 35,500 | -1,700 | -4.6% |
| • Real estate | 30,500 | -400 | -1.3% |
| • Leasing | 5,000 | -1,300 | -20.6% |
| Bldg. services | 30,700 | -2,100 | -6.4% |
| Building supply | 9,900 | -1,400 | -12.4% |
| Farm | 4,300 | -700 | -14.0% |
| All RE/finance | 200,400 | -27,400 | -12.0% |
| All other O.C. jobs | 1,229,000 | -46,900 | -3.7% |
| All O.C. jobs | 1,429,400 | -74,300 | -4.9% |
Want a noteworthy/painful slice of the local real estate and finance employment picture that says oodles about the devastation in these niches?
Note that the March report from the state Employment Development Dept. shows that Orange County building supply retailers — from home-improvement shops to lumberyards and employed 9,700 last month — that’s 3,000 below the peak of 12,700 reached in June ‘06 and the lowest total since June 1999.
Other highlights of the March report — if you can call them that — were …
- Construction employed 79,000 – that’s 31,400 below the peak of 110,400 reached in September ‘06
- Lending activities employed 31,600 — that’s 23,500 below the peak of 55,100 reached in December ‘05.
- Real estate/leasing employed 35,700 — that’s 3,900 below the peak of 39,600 reached in June. ‘06
- All real estate and finance employed 202,000 — that’s 59,000 below the peak of 261,000 reached in September 2006.
- Overall O.C. jobs totalled 1,431,600 – that’s 112,200 below the peak of 1,543,800 reached in December ‘06.
- O.C. office owners face bleak prospects
- $61,838 pay needed to afford O.C. rents
- Are O.C. builders regaining pricing power?
- Fed upgrades housing in West to feeble
- A complicated mortgage that could fund retirement
- U.S. foreclosure filings up 24% in a year
- To inflate or not to inflate? A story of appraisers
- Bailout maps
Posted in: Building suppliers • Real estate jobs • Top tale • building supply • Employment Development Dept. • unemployment
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This is why I don’t see how anyone can say that we are at the bottom in real estate. We are continuing to lose jobs. How can pricing stabilize when purchasing power continues to be sucked out of the economy?
well, this is nothing compared to all the jobs that are going to be lost in the auto industry
GM laying off 21,000 employees
A sizable portion of lending and construction jobs were held by people who commuted from the IE. It’s the employers who were here. Also, not to nitpick, but I doubt there are only 9,900 people in the building supply slice if that slice includes home improvement stores. Even if the slice were 100% Home Depot’s, etc., and there were only 100 Home Depot’s in Orange County, that would place only 99 employees at each location. It’s not computing.
sure, everybody repeat after me “there is no recession”
There are no foreclosures. No unemployed people. A starter home in OC should go for 1 million bucks. So don’t believe the bears or your own eyes. Repeat after me “there is no recession”
Everything is fine. There are no budget deficits in California. There are plenty of jobs out there. People are just lazy and don’t want to work. That’s all.
There are only 20 Home Depots in the O.C.
Once again, O.C. does not represent a new American gentry class. It still comes down to jobs and income. Nothing in the past 10 years could realistically sustain the unprecedented asset appreciation. Prices are still sinking to their own level no matter the government does.
i just closed escrow on a 2nd property!
now i have a little love nest for me and lee to get down-
ahhhhhh cornhole splitter!
ohhhh - i just pooped-
Sorry, I was wrong… I’m just trying to get my comission… don’t buy yet
04/23/2009 SOUP KITCHENS AND TENT CITIES
Crisis Plunges US Middle Class into Poverty
By Gregor Peter Schmitz and Gabor Steingart
Part 2: ‘The Land of Opportunity Is but a Cruel Joke’
The Costa Mesa Motor Inn is in Orange County, an upscale area not far from Los Angeles, familiar to many TV viewers as the setting of “The O.C.,” a series about the glamorous love lives of spoiled teenagers. The motel is next to an exceedingly green golf course, and a new shopping center across the street offers lattes for adults and play zones for children.
But there is nothing glamorous about the Costa Mesa Motor Inn, where strict rules are posted at the entrance: no alcohol, no panhandling. A police car is parked in front of the motel. Toy cars lined up on a windowsill in room 1108 serve as a reminder of better days.
“We were able to take the toy cars with us, but I had to throw most of the toys into the dumpster,” says Sergio Gallardo. He rents a room at the motel, which is barely 100 square feet (10 square meters) in size and has a small kitchenette, for $870 (€670) a month. His children — Raymon, 13, Sergio, 12, Alina, 8, Jacob, 5 and Lovely, 3 — peer out of the dimly lit room.
The Gallardos, who used to live in a large, three-bedroom apartment, have been staying at the motel since November. Sergio, 33, a powerful-looking man wearing an XXL T-shirt, once earned a good living as a construction worker, while his wife raised the children. But now he has lost his job, his wife and his car. The family’s German shepherd dog had to be taken to an animal shelter, because dogs are not permitted in the motel.
The only benefit of the family’s new quarters is that there are many playmates for the children. A local charity estimates that more than 1,000 families are living in motels in Orange County. The face of the crisis is cheerful here at the Costa Mesa Motor Inn’s playground, where children giggle and shriek as if they were at Disneyland.
As dire as their current situation is, the Gallardos are luckier than some of those in the Californian capital of Sacramento. There, not far from a railroad embankment, a tent city was, until recently, home to the poorest of the poor. The tent city had been around for several years but was in the past populated mainly by dropouts and drug addicts. But in recent months they were joined by the casualties of the economic crisis. Similar tent cities are growing all across the United States, from Seattle to Florida.
Birth control dude.
“But now he has lost his job, his wife and his car.”
.
Reminds me of country western song.
-74,300 jobs in OC, ouch!
Taxes are going up but that will only promote additional job losses and outbound relos. Nothing on the horizon to refuel a rebound.
To give you a prime example of why California is in deep trouble: Our lawmakers have to go to Nevada to ask business owners why they left California for Nevada LOLLLLLLLLLLLLLLLL.
Incompetence maximus. Pathetic!
http://sacramento.bizjournals.com/sacramento/stories/2009/04/20/daily52.html?ana=yb_sac
bogey is a homo
Thank you. Would you like me to move in with you and Lee? :)
ohhhhh that would be just super!
i will send you a key-
you can come in the ‘back door’ anytime!
“new rants” is much funnier than “old rants”.
Not really… but I noticed the OC Register user agreement is gone. I guess anything goes.
liar loan is just upset-
i refused to spoon him last night-
I know you’re not the real rants. It’s easy to tell because your words are spelled correctly and your sentences are intelligible.
Mr. Lansner and staff:
You need to clean up the comments here. Have some moderation, or do what you did a few weeks ago and have avatars indicate if a person is posting from the same IP address. This is embarrassing, to say the least. I suspect that if this trend continues, your readership will dwindle to the few flamethrowers that are already monopolizing the board.
I ran into some difficulties here in the past and I’m sure things will get worse because people are still in denial that their home is devaluing day by day. I have noticed a spur in aggravated attitudes on a daily basis by observing. It’s a sad situation we’re in…. hang in there.