June 17, 2024
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Tri-county unemployment rate drops below 4%

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The unemployment rate for the Central Coast fell below 4% in the month of April, according to the  latest data provided by the California Employment Development Department.

Released on May 17, the unemployment rate of the tri-counties was at 3.96% for the month of April, down from a 4.56% unemployment rate in the month of March and a 5% unemployment rate in the first two months of the year.

Two of the three counties on the Central Coast saw their respective unemployment rate’s drop, with Santa Barbara County’s unemployment rate seeing the steepest decline from 5.1% in the month of March to 4.2% in the month of April.

Ventura County had the second highest unemployment rate at 4.2% in the month of April, which remained the same from the month of March. 

San Luis Obispo’s unemployment rate remained the lowest in the tri-counties during the month of April with a 3.5% unemployment rate, down from 4% in the month of March.

In terms of job growth, the Central Coast also had a slower outing than previous months, adding a combined 1,900 non farming jobs in April, down from 2,700 in March and 3,900 in February. 

The majority of jobs added were in the leisure and hospitality sector, as Santa Barbara County added 300 jobs, Ventura County added 200  and San Luis Obispo County added 300.

As for the state, California’s unemployment rate held steady in the month of April, staying at 5.3% for the third straight month. 

California added 5,200 nonfarm payroll jobs in the month of April.

Five of California’s 11 industry sectors gained jobs in April with Private Education & Health Services, adding 11,900 jobs, posting the largest month-over gain for the fourth consecutive month.

Source: California Employment Development Department 

3.96% – The unemployment rate along the Central Coast in April

+1,900 – net gain of non-farming jobs along the Central Coast in April

5.3% – The unemployment rate for California in April