Unemployment Rate for  San Luis Obispo County continues to drop!

The San Luis Obispo County Monthly Employment Report (March 2018) shows a decrease in the civilian labor force, a decrease in the employment, and a decrease in the unemployment rate.

Unemployment

The California Employment Development Department (EDD) reported the unemployment rate was 2.9% in March 2018, down from a revised 3.2% in February 2018. SLO County has the 7th lowest Unemployment Rate in California. The unadjusted Unemployment Rate in California is 4.2% and 4.1% for the nation during the same period.

Month-over Job Changes

Four sectors reported job gains adding 600 jobs to the economy during the month of March 2018. This included Manufacturing, Trade, Transportation & Utilities, Leisure & Hospitality, and Government.

The Information, Financial Activities, and Professional & Business Services experienced no change while Mining, Logging, & Construction, Educational & Health Services, and Other Services experienced slight declines. Overall, employers in San Luis Obispo County have added 400 jobs in the past month.

Year-over Job Changes

Between March 2017 and March 2018, six sectors experienced year-over gains. Educational & Health Services experienced the most year-over growth of 600 jobs, followed by Mining, Logging, & Construction and Manufacturing each adding 400, while Government added 300 jobs, Other Services added 200 jobs, and Information added 100 jobs.

Financial Activities, Professional & Business Services, and Leisure & Hospitality experienced no year-over change. While Trade, Transportation & Utilities had a year-over loss of 200 jobs. Overall, employers in San Luis Obispo County have added 1,800 jobs in the past year.

This report is written by the San Luis Obispo County Workforce Development Board. For more labor market information, visit SLOworkforce.com/LMI

Data Source: http://www.labormarketinfo.edd.ca.gov/

 

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