February Jobless Rate
RIVERSIDE (CNS) – Amid a mix of payroll gains and losses throughout the regional economy, Riverside County’s unemployment rate dropped slightly 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 5.2%, compared to 5.3% in January.
According to figures, the February rate was four-tenths of a percentage point below the year-ago level, when countywide unemployment stood at 5.6%.
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 process is slated to wrap up presently, and the April jobless numbers will be released on schedule.
The combined unemployment rate for Riverside and San Bernardino counties — the Inland Empire — was 5.1%, down from 5.3% in January, the EDD said.
Bi-county data indicated that payrolls shrank by the widest margin in the trade, transportation and utilities sector, which shed an estimated 8,200 jobs, mainly in retail, as outlets and suppliers continued cutting back following the Holiday Season shopping blitz.
Additional loses were recorded in the agricultural, construction, financial services, manufacturing and public sectors, which lost an aggregate 1,700 positions, according to figures.
The health services and professional business services sectors expanded by 2,900 jobs, while miscellaneous unclassified industries increased by 300, data showed.
The information technology, leisure and mining sectors were unchanged.
The statewide non-seasonally adjusted unemployment rate in February was 5.5%.
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