Ventura County Labor Market Information:

OXNARD-THOUSAND OAKS-VENTURA METROPOLITAN STATISTICAL AREA (MSA)



The unemployment rate in Ventura County was 3.8 percent in May 2017, down from a revised 4.0 percent in April 2017, and below the year-ago estimate of 4.5 percent. This compares with an unadjusted unemployment rate of 4.2 percent for California and 4.1 percent for the nation during the same period.


State Of California Employment Development Department (EDD) Labor Market Information

 

California's unemployment rate fell to 4.7 percent in May, tying the record low that occurred in November-December 2000, according to data released today by the California EDD.  

 

The state's nonfarm payroll employment grew by 17,600 jobs in May, and California has now gained a total of 2,510,900 jobs since the economic expansion began in February 2010.  

 

Eight of California's eleven industry sectors added a total of 29,400 jobs in May. Government posted the largest jobs increase with a gain of 12,300 jobs, followed by information with a gain of 9,600 jobs. Other sectors adding jobs over the month were trade, transportation and utilities; other services; financial activities; educational and health services; construction; and manufacturing.  

 

Nine of California's eleven industry sectors added a total of 253,200 jobs year-over. The largest job gains were in educational and health services, up 64,600 jobs (a 2.5 percent increase); government, up 46,900 jobs (a 1.9 percent increase); and leisure and hospitality, up 44,000 jobs (a 2.3 percent increase). Other sectors adding jobs over the year were construction; other services; trade, transportation and utilities; professional and business services; financial activities; and information.  

 

Two industry sectors posted job declines over the year, down a total of 10,600 jobs. Manufacturing fell by 8,900 jobs (down 0.7 percent), and mining and logging was down by 1,700 jobs (a 6.9 percent decrease).

 


United States Department Of Labor - The Employment Situation: May 2017
Monthly national data by industry on employment, hours, and earnings of workers on the payrolls of nonfarm establishments.

 

Total nonfarm payroll employment increased by 138,000 in May, and the unemployment rate was little changed at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care and mining.  

 

Employment in health care rose by 24,000 in May. Hospitals added 7,000 jobs over the month, and employment in ambulatory health care services continued to trend up (+13,000). Job growth in health care has averaged 22,000 per month thus far in 2017, compared with an average monthly gain of 32,000 in 2016.  

 

In May, employment in professional and business services continued to trend up (+38,000). The industry has added an average of 46,000 jobs per month thus far this year, in line with the average monthly job gain in 2016.  

 

Employment in other major industries, including construction, manufacturing, wholesale trade, retail trade, transportation and warehousing, information, financial activities, and government, showed little change over the month.  

 

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours in May. In manufacturing, the workweek also was unchanged at 40.7 hours, while overtime edged up by hour to 3.3 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged down by 0.1 hour to 33.6 hours.  

 

In May, average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to $26.22. Over the year, average hourly earnings have risen by 63 cents, or 2.5 percent. In May, average hourly earnings of private-sector production and nonsupervisory employees increased by 3 cents to $22.00.

 

Source: Dept. of Labor

Conference Board - Help Wanted Online Data®
Measures the number of new, first-time online jobs and jobs reposted from the previous month on more than 1,200 major Internet job boards and smaller job boards that serve niche markets and smaller geographic areas.

Online advertised vacancies increased 195,600 to 4,809,200 in May, according to The Conference Board Help Wanted OnLine® (HWOL) Data Series, released May 31.

The April Supply/Demand rate stands at 1.53 unemployed for each advertised vacancy, with a total of 2.4 million more unemployed workers than the number of advertised vacancies. The number of unemployed was approximately 7.1 million in April.

Sector/Occupational Changes
In May, all of the ten largest online occupational categories posted increases.

Computer and mathematical science ads increased 25,200 to 542,100. The supply/demand rate lies at 0.29, i.e. over 3 advertised openings per unemployed job-seeker.

Healthcare practitioners and technical ads increased 46,400 to 642,400. The supply/demand rate lies at 0.15, i.e. over 6 advertised openings per unemployed job-seeker.

Management ads increased 23,800 to 412,700. The supply/demand rate lies at 0.78, more than 1 advertised opening per unemployed job-seeker.

Sales and related ads increased 31,800 to 489,500. The supply/demand rate for these occupations lies at 1.57, more than 1 unemployed job-seeker for every advertised available opening.


Relevant News
June 1, 2017 Reuters, U.S. Small Business Borrowing Drops to Six-Month Low, Ann Saphir

June 14, 2017 MarketWatch, U.S. Retail Sales in May Are Weakest in 16 Months, Jeffry Bartash

June 14, 2017 New York Times, Fed Actions Show Confidence, Binyamin Appelbaum

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