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SLO Watch: More Jobs,More Tourists

November 20,2015-

new home subdivision under construction in SLO

new home subdivision under construction in SLO

SLO County Shows Good Job Growth

The unemployment rate in the San Luis Obispo County was 4.3 percent in October 2015, up from a revised 4.1 percent in September 2015, and below the year-ago estimate of 5.3 percent. This compares with an unadjusted unemployment rate of 5.7 percent for California and 4.8 percent for the nation during the same period.
A closer look shows the county added 3800 non-farm jobs in the past year including 400 total new manufacturing and construction jobs in the past month. Total jobs jumped by 2500 from September to October while the labor force increased by 3000 over the same period. Unemployed individuals went from 5700 in September to 6200 in October.

Tourism Strong Around SLO County

September was good month for tourisms around SLO County. Figures from Smith Travel show hotel occupancy was up 2.3% while RevPAR was up a strong 12.3% – so more rooms were sold (up 4.3%) and revenue per room was higher.
Occupancy in September in SLO city was up 4.3%. In SLO city the TOT (bed tax) numbers are up 15.5% year over year.
October saw SLO city with 76.9% occupancy, down slightly from October 2014 at 77.6%. But hotels got an average of $103.86 a room compared to $98.04 in October 2014.Pismo Beach room revenue was $112.62,up from $97.84 in October  2014.
Morro Bay saw September hotel occupancy climb 3.3% to 72.8%.
The Monterey-Salinas area ,closer to the booming BayArea, saw a 12.1 % increase in occupancy in September and room revenue was more than 19% higher.

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