Source: EMSI QCEW and non-QCEW Employment 2014.3

A jobs report released this month shows San Luis Obispo County is challenged when it comes to the number of high-paying positions available.

Last year, the SLO County Workforce Investment Board partnered with BW Research Partnership, Inc. to conduct a study on the local economy.

The report found the county has had a strong recovery in terms of total employment, exceeding the numbers of neighboring Central Coast counties.

The state Employment Development Department said Friday that California gained more than 24 thousand jobs in June, with education and health services seeing the largest increase. The state's construction industry saw the weakest growth. 

Olga Hernandez is a research analyst for the department and says the unemployment rate is measured by the number of people who are not actively part of the labor force and who receive unemployment insurance.

Community Environmental Council

The Economic Vitality Corporatioin's (EVC) Mike Manchak is our guest this week on the Business Wrap-up.

Topics include:

  • Procore Technologies gets $15 million infusion of capital.
  • Solarize SLO (free workshops time/locations) working to expand solar energy in San Luis Obispo, Santa Barbara Counties.
  • San Luis Obispo-based FzioMed looking for FDA approval.
  • Latest unemployment numbers

The unemployment rate continues to fall along the Central Coast with Santa Barbara and San Luis Obispo Counties down to 5 percent for the month of May.

Monterey County's rate is higher at 7.4 percent, but that's down more than a full point from a year ago.

Santa Barbara and San Luis Obispo Counties have consistently been among the top performing locations in the state in terms of job growth, following the recession.

California's overall rate is 7.1 percent, which has also seen a downward trend this year.

Randol White

San Luis Obispo County's economy is looking pretty good according to the latest report delivered Friday morning in Paso Robles by an economic team out of Los Angeles.

"Jobs are up, incomes are up, production is up, housing prices are up, credit is standing. When you add it up, everything is going in the right direction," said Chris Thornberg, considered one of California's leading economists and the founding partner of Beacon Economics.

The latest unemployment numbers from the state of California show the Central Coast continues to have among the lowest unemployment rates in the state.

San Luis Obispo County's April jobless rate was 5.2 percent, while Santa Barbara County came in at 5.4.

Raymond McDonald is with the Santa Barbara County's Workforce Investment Board and cautioned that these numbers are new and will be adjusted over time, but he says it is encouraging to see numbers return to pre-recession levels.

A series of job fairs are coming to Santa Barbara County as local leaders work to improve the county's unemployment numbers.

The Santa Barbara County Workforce Investment Board and the California Employment Development Department will launch the effort this Thursday at Santa Barbara's Westside Community Center from 11a-3p.

A Lompoc job fair will be held on May 1 at the Veterans' Memorial Hall from 1-4p. The Santa Maria version is scheduled for June 12 at the Veterans' Memorial hall from 1-4p.

Flawed System

Feb 10, 2014

Long term and high unemployment is now frighteningly common across the developing world.  In his recent study, professor Ofer Sharone reveals how different labor market institutions give rise to job search games.