News
No Fluctuation in County’s Jobless Rate in February
RIVERSIDE (CNS) – Despite growth in some sectors of the regional economy, Riverside County’s unemployment rate was unchanged last month, according to figures released Friday by the California Employment Development Department.
The countywide jobless rate in February, based on preliminary EDD estimates, was 4.5%, the same as in January.
EDD posted the data outside of its usual schedule due to an annual statistical revision process, done in concert with the U.S. Department of Labor, known as “benchmarking,” which is intended to improve accuracy of results. The January unemployment figures were published earlier this week. The benchmarking process has now ended, and EDD officials will return to regularly posting data on the third Friday of every month for the rest of the year.
According to figures, the February 2023 rate was only two-tenths of a percentage point lower than the year-ago level, when countywide unemployment stood at 4.7%.
An estimated 52,500 county residents were recorded as out of work in February, and 1,105,500 were employed, according to EDD.
Mecca had the highest unemployment rate countywide last month at 11.1%, followed by Cherry Valley at 8.2%, Coachella at 7.7%, Rancho Mirage and Hemet at 6.5%, and East Hemet at 6.3%.
The combined unemployment rate for Riverside and San Bernardino counties in February was also 4.5%, up from 4.4% in January, according to figures.
Bi-county data indicated payrolls expanded by the widest margin in leisure and hospitality, which added 3,200 positions.
The construction, health services, manufacturing and professional business services sectors altogether increased by 6,600 jobs, figures showed.
Miscellaneous unclassified industries also grew by 1,600 jobs, while the information technology, mining and public sectors were unchanged.
The EDD said the agricultural, financial services and retail trade sectors shed 5,100 positions last month.
Data indicated that the statewide non-seasonally-adjusted unemployment rate in February was 4.8%.
Copyright 2023, City News Service, Inc.
By: Pristine Villarreal
March 24, 2023
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