The California Labor Market Information Division (LMID) released its February 2022 report on Friday, again this month later than per the usual schedule of the 3rd Friday following the prior month, accommodating time for LMID’s annual recalibration of the data.
Ventura County had a strong month by nearly all labor market indicators, adding a total of 5,300 jobs, 1,900 in Farm, 2,700, in all other private sector industries and 700 in Government. The unemployment rate improved from 4.8% in January all the way down to 4.1% in February, putting us even with the U.S. rate and well ahead of California as a whole, at 4.8%. Even more encouraging, our Labor Force increased by 5,200 workers jumping back into the game, now at 413,100. For the official data, click here. For our reflections, please read on.