With the nation still struggling out of the Great Recession, California’s overall job and unemployment rating is the 9th highest of all 50 states, at 5.9%. However, this ranking includes inland areas that have been hard hit: 8 of the 10 urban areas in the US with the highest unemployment rates are in inland areas of California. The coastal areas from Los Angeles south to San Diego have fared much better, with Los Angeles County at 6.2%, and San Diego at 4.4%. Lake Forest’s sister cities rate even better, with Irvine at 4.5%, and Mission Viejo at 3.6%.
According to “Sperling’s Best Places,” Lake Forest’s unemployment rate is 3.4%. Just for comparison purposes, the 2 states with the lowest unemployment rates are North Dakota, at 2.8% and Nebraska, at 2.9%. No beaches there, though. :-)
In a recent study reported in Economics, researchers looked at 3 data points to identify the top 10 cities in California for thriving job growth and excellent job prospects. The factors considered were:
1) Is the city growing?
2) Is the cost of living reasonable?
3) Are most people employed?
The 9th highest city in this study was—wait for it—Lake Forest!
The study reports that “the median household income is high compared to the average monthly homeowner costs, meaning that more of your hard-earned money can stay in your pocket.
The top 3 industries in Lake Forest are travel, hospitality, and tourism; the retail and wholesale trade; and transportation and warehousing. Some of the top jobs and employment in Lake Forest, CA are:
Panasonic Avionics Company’s Headquarters; Triconex- Invensys (a branch of the London-based engineering and information technology company); Apria Healthcare; Spectrum Brands (1 of 7 worldwide locations); Wet Seal’s Headquarters (specializing in trendy, beachy apparel); Dynacast (1 of 5 US locations of this global corporation); Sole Technology’s Headquarters (featuring Etnies); Alcon Research (eye care); and Ossur (orthopedics).
Similarly impressive listings could be assembled for nearby Irvine and Mission Viejo. Suffice it to say that there are numerous jobs and employment opportunities right here in Lake Forest, CA and its surrounds. Beyond that, to the north and south, are opportunities in every other industry, including education, health care, technology, business management, and industry.
Lake Forest, CA is home to Saddleback Church, the world-renowned ministry founded in the 1980s by Rick Warren, and currently the 7th largest church in the United States. A significant employer itself, the church offers a Career Coaching and Counseling Ministry that provides free support to local residents during career transitions. It meets weekly, and includes monthly “mixers” to connect job-seekers with employers. It also offers workshops on job search skills such as resume writing, networking, and salary negotiation.
“Livability.com” reports that, “There are 383,506 business establishments in Lake Forest's Orange County with fewer than 10 employees, which is a good indicator of the entrepreneurship in the community. Another 106,208 business have between 10 and 50 employees, 25,104 have between 50 and 250, and 3,396 businesses have more than 250 employees.” All in all, job and employment prospects in Lake Forest, CA are among the best to be found anywhere.
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Jackie Barikhan and Right Choice Mortgage are pleased to be a part of Lake Forest and the Orange County Community. Remember us for all of your home financing and real estate needs. Call or text us at 949 600-0944 when you have questions about home loans. Visit www.mylenderjackie.com
We’d love to help you get the best home loan when you are ready to buy a home in Lake Forest, California / Orange County & LA County.