Ventura County Jobless Rate Hits 16-Year Low
The county’s unemployment rate dropped to its lowest level in 16 years in May, down to 3.8% of the work force, in part because of the creation of more than 1,800 jobs.
A frenzied job market, fueled by a strong economy, showed solid employment gains in key industries such as construction, manufacturing and retail trade, the state Employment Development Department reported Friday.
The last time the county’s unemployment rate was so low was in the spring of 1983, when the rate was 3.7%.
Construction led job growth last month, adding more than 800 positions. Retail trade also grew, with employers bolstering their payrolls by about 400.
And in a sign of the county’s continued economic resilience, the manufacturing sector overcame lingering stagnation to add about 200 positions last month.
Other employment sectors that experienced growth in May included agriculture, which added 400 positions.
With about 381,000 employed residents, Ventura County ranks 14th among the state’s 58 counties in employment.
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