Overall unemployment rate moved down to 2.7% with the biggest shift in Restaurants & Hotels, which gained 1,200 roles, based on the most recently available information published in June 2022.
Total employment in the Oxnard-Thousand Oaks-Ventura, CA market rose by 2,015 jobs in May and the unemployment rate decreased compared to the prior month by 30 bps to 2.7%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Oxnard-Thousand Oaks-Ventura, CA unemployment rate is 68 bps below the national rate which is a positive sign.
- Unemployment in the market is 340 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 2.1% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.4% . Key sectors include:
- Transportation & Utilities: 53,700; -300
- Education & Healthcare: 49,700; -300
- Government: 47,200; +700
- Business Services: 43,700; -400
- Restaurants & Hotels: 37,900; +1,200
- Manufacturing: 26,500; +100
- Construction, Mining: 18,300; no change
- Financial Services: 15,300; -100
- Other Jobs: 9,400; +100
- IT & Development: 4,300; +200
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.