Employment Snapshot - Oxnard-Thousand Oaks-Ventura, CA March-2023

Weller Emmons

VP of Analytics and Finance at Mployer Advisor. He is passionate about leveraging data to provide industry leading insights for Mployer Advisor’s clients. Prior to joining Mployer Advisor, Emmons served as a healthcare provider strategy consultant for Knowledge Capital Group and as an internal strategy consultant at HCA Healthcare. Emmons earned his MBA and BE in Biomedical Engineering, both from Vanderbilt University.

Market Employment Summary

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Additional Benchmarking Resources

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Overall unemployment rate moved down to 4.0% with the biggest shift in Restaurants & Hotels, which gained 500 roles, based on the most recently available information published in May 2023.

Total employment in the Oxnard-Thousand Oaks-Ventura, CA market rose by 995 jobs in March and the unemployment rate decreased compared to the prior month by 10 bps to 4.0%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.

Oxnard-Thousand Oaks-Ventura, CA unemployment rate is 38 bps above the national rate which is a negative sign.
Unemployment in the market is 20 bps above the unemployment rate in the market last year at this time, which is a negative.
Average wages (per hour) grew in March versus prior month by 3% and are up compared to last year at this time in the market.

Month over Month Unemployment Change

Year over Year Unemployment Change

Oxnard-Thousand Oaks-Ventura, CA Unemployment March 2023

For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:

Transportation & Utilities: 57,200; -200
Education & Healthcare: 53,200; +400
Government: 47,700; +200
Business Services: 44,300; no change
Restaurants & Hotels: 38,000; +500
Manufacturing: 27,000; no change
Construction, Mining: 18,200; -300
Financial Services: 15,500; +200
Other Jobs: 9,800; no change
IT & Development: 4,000; +100

Employment Change by Key Sector

Oxnard-Thousand Oaks-Ventura, CA Unemployment by Industry March 2023

Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.

Oxnard-Thousand Oaks-Ventura, CA