Supersectors Back Despite Slow Job Growth

IRVINE, CA-Despite potential threats, several factors paint a positive picture for Orange County’s office market, according to Jones Lang LaSalle. Positive job growth and a relatively low unemployment rate put the economy in a good light, and positive net absorption, an active construction pipeline and a flurry of sales transactions indicate strong fundamentals.

Still, there are some points of caution, JLL reports. While the overall unemployment rate is holding steady at 6.2%, the rate at which jobs are being added is somewhat demoralizing when considering the county lost 206,800 jobs from peak to bottom in the downturn. Nearly four years into the recovery, just under half of these jobs have been recovered.