Overall unemployment rate moved up to 4.2% with the biggest shift in Business Services, which lost 1,300 roles, based on the most recently available information published in March 2023.
Total employment in the Oxnard-Thousand Oaks-Ventura, CA market declined by 3,388 jobs in January and the unemployment rate increased compared to the prior month by 100 bps to 4.2%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Oxnard-Thousand Oaks-Ventura, CA unemployment rate is 34 bps above the national rate which is a negative sign.
- Unemployment in the market is 60 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 1.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.8%. Key sectors include:
- Transportation & Utilities: 58,000; -1,300
- Education & Healthcare: 52,100; -800
- Government: 46,900; -500
- Business Services: 43,400; -1,300
- Restaurants & Hotels: 37,100; -1,000
- Manufacturing: 26,900; -200
- Construction, Mining: 18,300; -400
- Financial Services: 15,100; -200
- Other Jobs: 9,700; no change
- IT & Development: 3,900; no change
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.