Ventura County Labor Market Information:

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



The unemployment rate in Ventura County was 4.6 percent in March 2017, down from a revised 4.7 percent in February 2017, and below the year-ago estimate of 5.2 percent. This compares with an unadjusted unemployment rate of 5.1 percent for California and 4.6 percent for the nation during the same period.


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

 

California's unemployment rate fell to 4.9 percent and the state's employers added 19,300 nonfarm payroll jobs in March, according to data released today by the California Employment Development Department (EDD) from two surveys.  

 

With March's job gains, the state has gained a total of 2,507,400 jobs since the economic expansion began in February 2010. The U.S. unemployment rate decreased 0.2 percentage point in March to 4.5 percent, with employers nationwide adding 98,000 nonfarm payroll jobs.  

 

In February, the state's unemployment rate was 5.0 percent, and in March 2016, the unemployment rate was 5.6 percent. The unemployment rate is derived from a federal survey of 5,500 California households.  

 

Nonfarm payroll jobs in California totaled 16,694,000 in March, according to a survey of businesses that is larger and less variable statistically. The survey of 58,000 California businesses measures jobs in the economy. The year-over change, March 2016 to March 2017, shows an increase of 346,400 jobs (up 2.1 percent).  

 

Six of California's eleven industry sectors added a total of 37,200 jobs in March. Construction posted the largest jobs increase, with a gain of 18,900 jobs, followed by government, with a gain of 6,300 jobs. Other sectors adding jobs over the month were manufacturing; educational and health services; leisure and hospitality; and other services.  

 

Five industry sectors reported job declines over the month, down a total of 17,900 jobs. Information posted the largest decrease over the month, down by 9,400 jobs, followed by trade, transportation and utilities, which fell by 4,200 jobs. Other sectors losing jobs over the month were mining and logging; financial activities; and professional and business services.

 


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

 

Total nonfarm payroll employment edged up by 98,000 in March, following gains of 219,000 in February and 216,000 in January. Over the month, employment growth occurred in professional and business services (+56,000) and in mining (+11,000), while retail trade lost jobs (-30,000).  

 

In March, employment in professional and business services rose by 56,000, about in line with the average monthly gain over the prior 12 months. Over the month, job gains occurred in services to buildings and dwellings (+17,000) and in architectural and engineering services (+7,000).  

 

In March, employment continued to trend up in health care (+14,000), with job gains in hospitals (+9,000) and outpatient care centers (+6,000). In the first 3 months of this year, health care added an average of 20,000 jobs per month, compared with an average monthly gain of 32,000 in 2016.  

 

Employment in financial activities continued to trend up in March (+9,000) and has increased by 178,000 over the past 12 months.  

 

Construction employment changed little in March (+6,000), following a gain of 59,000 in February. Employment in construction has been trending up since late last summer, largely among specialty trade contractors and in residential building.  

 

Retail trade lost 30,000 jobs in March. Employment in general merchandise stores declined by 35,000 in March and has declined by 89,000 since a recent high in October 2016. Employment in other major industries, including manufacturing, wholesale trade, transportation and warehousing, information, leisure and hospitality, and government, showed little or no change over the month.  

 

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.3 hours in March. In manufacturing, the workweek edged down by 0.2 hour to 40.6 hours, and overtime edged down by 0.1 hour to 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged down by 0.1 hour to 33.5 hours.  

 

In March, average hourly earnings for all employees on private nonfarm payrolls increased by 5 cents to $26.14, following a 7-cent increase in February. Over the year, average hourly earnings have risen by 68 cents, or 2.7 percent. In March, average hourly earnings of private-sector production and nonsupervisory employees increased by 4 cents to $21.90.

 

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 102,000 to 4,639,700 in March, according to The Conference Board Help Wanted OnLine® (HWOL) Data Series, released April 5.

The February Supply/Demand rate stands at 1.66 unemployed for each advertised vacancy with a total of 2.9 million more unemployed workers than the number of advertised vacancies. The number of unemployed was approximately 7.5 million in February.

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

Computer and mathematical science ads increased 16,900 to 524,800. The supply/demand rate lies at 0.26, i.e.almost 4 advertised openings per unemployed job-seeker.

Business and Financial ads increased 12,400 to 285,500. The supply/demand rate lies at 0.75, more than 1 advertised opening per unemployed job-seeker.

Healthcare practitioners and technical ads increased 7,700 to 591,800. The supply/demand rate lies at 0.25, i.e.over 4 advertised opening per unemployed job-seeker.

Sales and related ads increased 21,700 to 473,400. The supply/demand rate for these occupations lies at 1.58, more than 1 unemployed job-seeker for every advertised available opening.


Relevant News
April 7, 2017, New York Times, Job Growth Loses Steam as U.S. Adds 98,000 in March, Nelson D. Schwartz

April 17, 2017, Leadership From the Core, INC, How Can You Spot a Really Good Leader? They Do Any of These 7 Things Daily, Marcel Schwantes

April 18, 2017, USA Today, IMF Raises Global Economic Outlook in 2017 to 3.5% On Investment Recovery, Roger Yu

April 19, 2017, Bloomberg, Fed Says U.S. Growth Continues Though Consumer Spending Mixed, Michelle Jamrisko

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