Unemployment rate ticks down in August
The unemployment rate along the Central Coast finally changed direction for the first time in months, according to the latest data provided by the California Employment Development Department.
Announced Sept. 19, the unemployment rate for the Central Coast was 4.96% in the month of August, down from a jobless rate of 5.2% in July. The downward trend also stops four straight months of increases.
For context, last year’s summer months — June and July — also saw unemployment rates were significantly higher than the rest of the year.
The unemployment rate for Santa Barbara County was at 4.7% in August, down from an unemployment rate of 5% in July.
Ventura County, which had a 5.4% unemployment rate in July, reported a 5.2% unemployment rate in August. The unemployment rate in August of last year was 5.1%.
Finally, San Luis Obispo County’s unemployment rate was at 5% in August, down from 5.2% in July, but it is up from last year’s unemployment rate of 4.5% in August.
In terms of job growth, the Central Coast as a whole added 1,000 nonfarming jobs, but only Ventura County had a net gain of nonfarming jobs, adding 2,300, thanks in large part to a huge hiring spree in the government sector.
Both Santa Barbara and San Luis Obispo had losses in nonfarming jobs at 700 and 600, respectively.
As for the state, California’s unemployment rate was again at 5.5% in August, the same as July and still up from 5.4% in June after sitting at 5.3% in May, April and March.
Six of California’s 11 industry sectors gained jobs in August, with Private Education and Health Services (+9,800) showing gains for the 43rd consecutive month with notable gains in Offices of Physicians, Home Health Care Services, and similar fields. These gains are partly due to California’s aging population.
Source: California Employment Development Department
4.96% – The unemployment rate along the Central Coast in August
+1,000 – Net gain of nonfarming jobs along the Central Coast in August
5.5% – The unemployment rate for California in August
