Unemployment Rate for  San Luis Obispo County decreases in August

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

Unemployment

The California Employment Development Department (EDD) reported the unemployment rate was 3.0% in August 2018, down from a revised 3.1% in July 2018. SLO County continues to have the 7th lowest Unemployment Rate in California. The unadjusted Unemployment Rate in California is 4.3% and 3.9% for the nation during the same period.

Month-over Job Changes

Four industries reported job gains adding 800 jobs to the economy during the month of August 2018. This included Educational & Heath Services adding 400 jobs. The Mining, Logging, & Construction industry adding 200 jobs. Manufacturing and Financial Activities each adding 100 jobs.

The Other Services industry experienced no change.

Government experienced a total job loss of 1,900 jobs. Leisure & Hospitality experienced a loss of 500 jobs and Trade, Transportation & Utilities and Professional & Business Services lost 200 jobs each.

Total Farm experienced a loss of 400 jobs.

Overall, employers in San Luis Obispo County lost 2,400 jobs in the past month. This is the second month of naturally occurring seasonal decline in the Government industry. What appears to be a significant loss of jobs will naturally correct itself in a few months based on the seasonality of this industry sector.

Year-over Job Changes

Between August 2017 and August 2018, six industries experienced year-over gains. Other Services experienced the most year-over job growth of 700 jobs.  Leisure & Hospitality and Educational & Health Services added 500 jobs. Mining, Logging, and Construction added 400 jobs. Manufacturing added 300 jobs and Information added 100 jobs.

Professional & Business Services had a year-over loss of 300 jobs. Trade, Transportation & Utilities had a year-over loss of 200 jobs.

Total Farm lost 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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