Orange County’s Unemployment Rate Near a 20-Year Low

Orange County’s labor market entered 2023 with an unemployment rate of 2.5%, according to the latest release from California’s Employment Development Department. It was the second-lowest unemployment rate locally in 20 years, after briefly touching 2.4% in May 2022. The current level is far lower than California’s statewide unemployment rate of 3.7% and the national average of 3.3%.