Thursday, March 5, 2009

New Unemployment Numbers Released

The latest unemployment numbers have been released for California and individual cities. The statewide unemployment reported in January is up to 10.1% from a revised 8.7% in December of 2008.

More interesting is that the Santa Barbara County unemployment numbers are up to 8.3% for the county as a whole, 5.9% for the City of Santa Barbara and 4.1% for the City of Goleta. Those numbers are still pretty low. We average more unemployment for the County than the US does as a whole but we have some pockets with unnaturally high unemployment like Montecito and Isla Vista. The individual city numbers can be more useful however and they still show a relatively strong market for Santa Barbara and Goleta.

We are confident that unemployment in this area will not see a drastic increase due to the relatively stable industries located here. Some areas that might possibly see some reductions would be continued layoffs in the financial services industry, as well as the tourism industry.

No comments:

Post a Comment