The California Labor Market Information Division released its May 2020 report earlier today, showing that at least as measured by the unemployment rate we’ve turned the corner toward recovery. Ventura County’s unemployment rate improved from a revised 13.9% in April to 13.5% in May. This parallels the April to May improvement in the national unemployment rate reported earlier this month. While the national improvement wasn’t so much a surprise, as much of the country began to re-open businesses well ahead of California, I’ll admit that we anticipated Ventura County’s rate to go up in May, even by as much as 5 points. It’s a welcome relief that it hasn’t, though recovery remains a long way off. For the May data, go to www.labormarketinfo.edd.ca.gov/file/lfmonth/vent$pds.pdf
