April 2, 2024
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Tri-County unemployment rate still at 5% 

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The unemployment rate for the Central Coast remained at 5% through the month of February, according to the latest data provided by the California Employment Development Department.

Released on March 21, the unemployment rate of the tri-counties was 5% compared to the same rate in January and up substantially from a 4.3% unemployment rate in the month of December.

To start the year, Santa Barbara County has had the highest unemployment rate after a year of Ventura County leading the way in 2023.

Santa Barbara County’s unemployment rate was 5.7% in the month of February, the same as the month of January.

Ventura County had the second highest unemployment rate at 5.1% in February, down 0.1% from the revised rate from the previous month. 

San Luis Obispo’s unemployment rate remained the lowest — and the only one below 4% — in the tri-counties during the month of February with a 4.3% unemployment rate.

In terms of job growth, the Central Coast also had another solid outing, adding a combined 3,900 non farming jobs in February.

The majority of jobs added were in the government sector, as Ventura County added 700 government jobs, Santa Barbara County added 300 and San Luis Obispo County added 500.

Other sectors that saw growth included Ventura County adding 700 jobs in the private education and health sector, Santa Barbara County adding 300 jobs in the professional and business services and San Luis Obispo County adding 200 jobs in the leisure and hospitality sector.

California’s unemployment rate rose by 0.1% to 5.3% in February while the state lost 3,400 non farming jobs.

Source: California Employment Development Department 

5% – The unemployment rate along the Central Coast in February

+3,900 – net gain of non-farming jobs along the Central Coast in February

5.3% – The unemployment rate for California in February