February 23, 2024
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Unemployment rate hikes up in August

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The unemployment rate along the Central Coast took quite a leap from July to August, as the unemployment rate of the tri-counties jumped from 3.6% to 4%, according to the data released on Sept. 15 from the California Employment Development Department. 

Ventura County had the highest unemployment rate at 4.6% in August. The county also experienced the highest month-over-month hike in the unemployment rate from 4.1% to 4.6%. It is the only county to have an unemployment rate greater than 4%.

San Luis Obispo’s unemployment rate remained the lowest in the tri-counties, sitting at 3.7% for the month of August compared to 3.3% in the month of July.

Santa Barbara County had the second-highest unemployment rate at 3.9% in August up from 3.5% in the month of July.

It was also a tough month along the Central Coast in terms of job growth during June.

The tri-county region lost a combined 1,000 jobs in August, with Ventura County being the only one to produce a net gain of nonfarm jobs, adding 600.

The biggest difference is that Ventura County added 2,000 government jobs while both Santa Barbara and SLO counties actually saw government jobs decline.

San Luis Obispo County did add 200 manufacturing jobs.

California’s unemployment rate remained at 4.6% for the third consecutive month as the state’s employers added 23,100 nonfarm payroll jobs to the economy.

California’s August nonfarm job gain was 12.4% of the national job gain, more than California’s 11.6% share of the U.S total nonfarm employment.

Seven of California’s 11 industry sectors gained jobs in August with Private Education & Health Services leading the way with a gain of 14,000 jobs.

About 9,000 jobs were lost in Motion Picture and Sound Recording due to the Writer’s and Actor’s Hollywood strikes. 

Source: California Employment Development Department 

4% – The unemployment rate along the Central Coast in August

-9,000 – jobs lost in motion picture and sound recording due to the writer’s and actor’s strikes

4.6% – total unemployment rate for California in August