Updated November 2023
Roseville, Calif. – Placer County’s unemployment rate ticked up .1 percent in the latest report from the California Economic Development Dept. The latest report knocked Placer County out of the top 10 in California, although the employment rate remains relatively low. Overall the economy has defied pundits in politics and on cable news for years as they rely on doom and gloom to keep their adherents tuned in.
The Bay Area continues to lead California with the lowest unemployment rate statewide. The counties reporting the highest unemployment remain Imperial County (19.3%) (migrant & seasonal work) and Tulare County (9.6%).
Local Counties At a Glance
- Placer 3.9% (up from 3.8%)
- Sacramento 4.5% (unchanged)
- El Dorado 4.0% (up from 3.8%)
- Nevada 4.0% (unchanged)
- Yolo 4.4% (up from 4.3%)
- Yuba 6.1% (down from 6.2%)
California Unemployment Rate by County
|SAN LUIS OBISPO||3.50%|
“The Real Unemployment”
Public agencies regularly use a series of measures to report on labor underutilization. Labeled U-1 through U-6, each measure takes a variety of statistics into account to report numbers. The U-6, although less used, is often considered a more reliable indicator. For example statewide, the California EDD reports California unemployment numbers at 4.7%. The Bureau of Labor Statistics (BLS) ranges from 1.7 percent (U-1) to 8.9 percent (U-6)
- U-1, persons unemployed 15 weeks or longer, as a percent of the civilian labor force;
- U-2, job losers and persons who completed temporary jobs, as a percent of the civilian labor force;
- U-3, total unemployed, as a percent of the civilian labor force (this is the definition used for the official unemployment rate);
- U-4, total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers;
- U-5, total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers; and
- U-6, total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.
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