The California Labor Market Information Division (LMID) released its June 2021 report earlier today, showing our first monthly increase in the unemployment rate since December 2020. This increase, however, is not unique to Ventura County, as both the state and nation suffered monthly increases in unemployment as well. Ventura County’s rate rose from 5.8% in May to 6.4% in June, while California’s unadjusted rate jumped from 7.5% to 8.0% and the nation’s from 5.5% to 6.1%. These increases are a bit of surprise, given the current pace of recovery from pandemic, but largely track with consistent, annual increases at the beginning of each summer, so not to be taken seriously as an indication of any kind of structural economic slowdown. For the data go here.
