Labor Market Report for August 2022
The California Labor Market Information Division (LMID) released its August 2022 report on Friday, the overall data showing little change, though an uptick in the Ventura County unemployment rate, from 3.2% in July to 3.5% in August. That increase, however, had less to do with any loss in jobs—in fact, Ventura County had zero change in total industry employment, from July to August—rather its cause was by a change in the total participating in the labor force, specifically by an increase in the total number of officially unemployed workers, up from 13,100 in July to 14,300 in August. We’ll unravel that best we can a bit more in our commentary below. For the official August data, click here.