July 1, 2024
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Unemployment rate holds steady across the tri-counties in May

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The unemployment rate along the Central Coast remained largely unchanged in May from April, as combined the tri-counties had the same unemployment rate of 3.4%, according to the data released on June 16 from the California Employment Development Department. 

Ventura County had the highest unemployment rate at 3.7% in May, which is actually up from 3.5% in April, while San Luis Obispo’s unemployment rate remained unchanged month-over-month to remain at 3% in May.

Santa Barbara County had the second highest unemployment rate at 3.5% in May, but also was the only county to experience a month-over-month drop, down from 3.7% in April.

The tri-county region also added more than 3,000 nonfarming jobs in May, with each county adding at least 1,000 nonfarming jobs — a very welcoming trend.

Of the 3,500 nonfarm jobs added along the Central Coast, the majority of those were in the leisure and hospitality sector as 1,600 jobs were added, including 700 in Santa Barbara County and 600 in San Luis Obispo County.

Ventura County added the most government jobs, 600, while Santa Barbara County added another 400 government jobs.

California’s unemployment rate held steady in May at 4.5%, unchanged from April. The state also added 47,300 nonfarming jobs, 14% of the national job gain of 339,000.

Eight of California’s 11 industry sectors gained jobs in May with Private Education and Health Services leading the way with over 16,000 jobs added thanks to above-average gains in General Medical and Surgical Hospitals, Nursing Care Facilities, and Individual and Family Services industry groups.

Manufacturing suffered the largest month-over job reduction, with 5,700 jobs lost, due in part, to losses in Computer and Electronic Manufacturing, as well as losses in Fabricated Metal Manufacturing, Machine Manufacturing, and Apparel Manufacturing.

Source: California Employment Development Department