July 19, 2024
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Tri-county unemployment remains the same in October


California’s unemployment rose for the second straight month, but on the Central Coast, the unemployment rate was unchanged from September to October while also adding a slew of non-farming jobs during the month.

According to the data released Nov. 17 from the California Employment Development Department, the unemployment rate of the tri-counties was 3.9% compared to the same rate in September and 4% in the month of August.

Ventura County had the highest unemployment rate at 4.5% in September, up 0.1% from the revised rate from the previous month. 

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 during the month of October, staying at 3.5% for the second consecutive month.

Finally, Santa Barbara County’s unemployment rate in October was 3.7%, up 0.1% from the revised rate from the previous month. 

In terms of job growth, the Central Coast also had another solid outing, adding a combined 8,200 non farming jobs in October after adding 5,000 in the previous month.

The majority of jobs added were in the government sector, as Ventura County added 700 government jobs, Santa Barbara County added 1,500 and San Luis Obispo County added 800.

Other sectors that saw growth included Ventura County adding 1,400 jobs in the private education and health sector, Santa Barbara County adding 400 jobs in the professional and business services and San Luis Obispo County adding 400 jobs in the trade, transportation and utilities.

California’s unemployment rate rose by 0.1% to 4.8% in October despite the state’s employers adding 40,200 nonfarm payroll jobs to the economy

California’s 40,200 October nonfarm job gain accounted for 26.8% of the national job gain of 150,000 for the month.

Moreover, 10 of California’s 11 industry sectors gained jobs in October with Private Education & Health Services once again leading the way with over 13,000 jobs being added. 

Since the current economic expansion began in April 2020, California has gained over 3 million jobs, which averages out to a gain of 77,000 jobs per month.

Source: California Employment Development Department 

3.9% – The unemployment rate along the Central Coast in October

+8,200 – net gain of non-farming jobs along the Central Coast in October

4.8% – The unemployment rate for California in October