Monday, January 22, 2007

Real estate job growth flat

Today Lansner's blog reported the job growth numbers of OC and of course RE related jobs are flat. One of the reasons why I started this blog is that some of my posts never made it to Lansner's blog. So this is what I tried to post there today in case it doesn't show up. Not word for word but close.

Let's see if my math is straight. If 1,528,200 jobs equals an unemployment rate of 3.2% then that means there are 49,502 people unemployed and that totals 1,577,702 people who have jobs or want jobs. Now if RE related jobs account for 16.5% or 252,153 of the jobs and since sales are down about 30% that could mean 30% less 76,646 RE jobs. Then the unemployment rate would be 9.2%? This is econ 101 so I could be still learning here but it is pretty basic math. Even if the drop isn't that drastic if sales are down 30% we don't as many people in the business. Even if they find other careers or move from OC this will have an impact on income, taxes and retail etc.

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