According to recent estimates, unemployment in July decreased not only in Lake County but also across California and the country. According to the California Employment Development Department, or EDD, the unemployment rate in Lake County was 4.2% in July 2021, down from 7.7% in July 2021 and 4.4% in June. With a 3.8% unemployment rate in May, Lake County saw its lowest unemployment rate in the previous 30 years.
The data showed that total nonfarm employment increased by a total of 3.4% over the year in Lake County, while total farm employment increased by 7.2% over the same period. California’s unemployment rate dropped to a new record low of 3.9% in July from 4.2% in June as firms in the state created 84,800 nonfarm payroll jobs, according to the EDD.
According to the U.S. Bureau of Labor Statistics, the country’s overall unemployment rate was 3.5% in July, down from 3.6% in June and 5.4% in July 2021. The paper states that California’s unemployment rate for July 2022, which was 3.9 percent, was the lowest ever recorded in a statistical series that began in 1976. In July 2022, there were 17,618,100 payroll jobs in California, an increase of 84,800 from June and 850,600 from July of the previous year.
Of the 2,758,900 nonfarm jobs lost by the state in March and April of 2020 as a result of the COVID-19 pandemic, the state has already recovered 97.3% (2,685,100) of them. California’s private sector (non-government) has completely recovered from pandemic losses as of July 2022. According to the EDD, July 2022 marked the 13th consecutive month of unemployment increases and the 10th straight month of non-farm job gains.
In 17 of the last 18 months, there were month-over-month increases in nonfarm employment of 1.6 million. Out of the 58 counties in the state, Lake County had the 38th-highest unemployment rate in July. According to the most recent report, the unemployment rates in Lake’s bordering counties are Colusa, 7.9%, No. 57; Glenn, 4.7%; Napa, 2.6%; Sonoma, 2.6%; and Yolo, 3.2%, No. 20. San Mateo had the lowest unemployment rate (1.9%) and Imperial had the highest (14.2%).