
The California Labor Market Information Division (LMID) released its August 2021 report earlier today, showing moderate improvement to our unemployment rate but some surprising, even disturbing volatility in the labor force and employment data.
On the upside, the Ventura County unemployment rate improved from 6.4% in July to 6.2% in August, somewhat encouraging news since we’re still dealing with the slowdown caused by the Delta variant.
On the downside, that improvement owes less to new job creation than to the month’s dropout of 4,000 workers from the labor force, meaning they’re neither working nor even looking for work. That’s a big reduction to the County’s productivity and earnings, even worse for us that it’s on top of the roughly 9,000 workers we were already down from pre-pandemic levels.
































