Unemployment Rate for San Luis Obispo County increases in July
The San Luis Obispo County Monthly Employment Report (July 2018) shows a decrease in the civilian labor force, a decrease in civilian employment, and a decrease in civilian unemployment. The unemployment rate went down because 1,700 people left the labor force last month.
The California Employment Development Department (EDD) reported the unemployment rate was 3.1% in July 2018, down from a revised 3.2% in June 2018. SLO County has the 7th lowest Unemployment Rate in California. The unadjusted Unemployment Rate in California is 4.4% and 4.1% for the nation during the same period.
Month-over Job Changes
Five sectors reported job gains adding 700 jobs to the economy during the month of July 2018. This included Leisure & Hospitality adding 300 jobs, Manufacturing, Information, and Trade, Transportation & Utilities each adding 100 jobs, and Mining, Logging, & Construction adding 100 jobs.
The Financial Activities and Professional & Business Services industries experienced no change. Total Farm experienced no change.
Government experienced a total job loss of 3,500 jobs. Other Services experienced a loss of 500 jobs and Educational & Heath Services lost 200 jobs.
Overall, employers in San Luis Obispo County lost 3,500 jobs in the past month. What appears to be a significant loss of jobs will naturally correct itself in a few months based on the seasonality of the industry sector.
Year-over Job Changes
Between July 2017 and July 2018, six sectors experienced year-over gains. Other Services experienced the most year-over job growth of 1,300 jobs. Leisure & Hospitality added 800 jobs, Manufacturing added 300 jobs, Educational & Health Services added 100 jobs, Mining, Logging, and Construction added 100 jobs, and Information added 100 jobs.
Trade, Transportation & Utilities and Professional & Business Services each had a year-over loss of 200 jobs. Financial Activities and Government each had a year-over loss of 100 jobs. Total Farm lost 200 jobs.
Overall, employers in San Luis Obispo County have added 2,100 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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