Unemployment Rate for  San Luis Obispo County continues to drop!

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

Unemployment

The California Employment Development Department (EDD) reported the unemployment rate was 2.5% in May 2018, down from a revised 2.6% in April 2018. SLO County has the 6th lowest Unemployment Rate in California. The unadjusted Unemployment Rate in California is 3.7% and 3.6% for the nation during the same period.

Month-over Job Changes

Four sectors reported job gains adding 700 jobs to the economy during the month of May 2018. This included Trade, Transportation & Utilities, Educational & Health Services, Leisure & Hospitality, and Government.

The Mining, Logging, and Construction, Manufacturing, Information and Financial Activities industries experienced no change. Total Farm experienced a gain of 300 jobs.

Professional & Business Services experienced a job loss of 100 jobs.

Overall, employers in San Luis Obispo County have added 900 jobs in the past month.

Year-over Job Changes

Between May 2017 and May 2018, seven sectors experienced year-over gains. Educational & Health Services experienced the most year-over growth of 600 jobs, while Other Services added 500 jobs, Leisure & Hospitality added 400 jobs, Government and Manufacturing added 300 jobs, Mining, Logging, and Construction added 200 jobs, and Information and Total Farm added 100 jobs.

Financial Activities and Professional & Business Services experienced no year-over change. While Trade, Transportation & Utilities had a year-over loss of 500 jobs. Overall, employers in San Luis Obispo County have added 2,000 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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