July 19, 2024
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California, Central Coast unemployment fall in May

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For the third consecutive month, the unemployment rate on the Central Coast dipped dramatically from the previous month, according to the latest data provided by the California Employment Development Department.

Released June 21, the unemployment rate of the tri-counties was at 3.33% for May, down from 3.96% in April and 4.56% in March.

All three counties on the Central Coast saw their respective unemployment rates drop with no single county having an unemployment rate above 4%.

Santa Barbara County’s unemployment rate saw the steepest month-over-month decline, posting a 3.3% unemployment rate in May, down from 4.2% in April. 

Ventura County had the second-highest unemployment rate at 3.7% in May, down from 4.2% in April.

San Luis Obispo’s unemployment rate remained the lowest in the tri-counties during May with a 3% unemployment rate, down from 3.6% in March.

In terms of job growth, the Central Coast added 3,400 nonfarming jobs in May, up from only adding 1,900 in April.

The majority of jobs added were in the leisure and hospitality sector for all three counties with Santa Barbara County adding 600 jobs, Ventura County adding 500 and San Luis Obispo County adding 400.

As for the state, California’s unemployment rate dropped to 5.2% from 5.3% after three months of staying the same. 

California’s employers added 43,700 nonfarm payroll jobs in May, the largest such increase for the state since October 2023.

Eight of California’s 11 industry sectors gained jobs in May with Leisure and Hospitality showing the best month-over increase adding over 10,000 jobs thanks partly to California drying out from wet weather across the state earlier in the year. 

Source: California Employment Development Department 

3.33% – The unemployment rate along the Central Coast in May

+3,600 – net gain of non-farming jobs along the Central Coast in May

5.2% – The unemployment rate for California in May