-November 13,2023-
New home construction drops big time in 2023
New home construction has dropped off a cliff in San Luis Obispo County as high interest rates appear to have cooled home sales .According to the website Construction Monitor builders have permitted just 211 new homes in 2023 through October. That compares to 483 unit over the same time in 2022 and 554 through the sea 10 months of 2021.The busiest builders so far this year Midland Pacific Building Corp with 29 homes and Coastal Community Builders with 24.
Jobless rate falls in SLO County
The unemployment rate in the San Luis Obispo County was 3.6 percent in September 2023, down from a revised 3.7 percent in August 2023, and above the year-ago estimate of 2.7 percent. This compares with an unadjusted unemployment rate of 4.9 percent for California and 3.6 percent for the nation during the same period.
A look at the numbers show SLO County generated 4000 more non farm jobs than a year ago and 200 more farm jobs. Construction jobs were down 300 year over year. The largest gain in the local economy came in the hospitality sector- with 1600 more jobs than September 2022.
EDD figures show some 2200 more people in the labor force than a year earlier. About 5000 people are unemployed in the county.