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SLO Jobless Rate Falls To 7 Percent

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The unemployment rate in the San Luis Obispo County was 7.0 percent in February 2013, down from a revised 7.5 percent in January 2013, and below the year-ago estimate of 8.8 percent. This compares with an unadjusted unemployment rate of 9.7 percent for California and 8.1 percent for the nation during the same period. The rate is lowest since 2011 when the EDD changed the way they figured the rates. Prior to this in – 2007 and before the county  routinely had rates  in the 5% range or less.

A closer look at the  SLO numbers shows more than 5100 more jobs in Feb 2013 compared to same month in 2012.The biggest jump came in the business and professional services  category. Helping to lower the rate from January 2013 to February was a 1% decline in the labor force .Layoffs in  local government sector  numbered more than 2000 in February.

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