UNEMPLOYMENT RATE HITS 6.2% IN COUNTY.

Byline: Terry Kanakri Daily News Staff Writer

Unemployment in Ventura County dipped to 6.2 percent in March from 6.9 percent the previous month in a decline described by analysts as a promising sign of economic recovery and job growth.

The falling unemployment rate cut the number of county residents without work to 23,800 in March from 26,800 in February, with each of the county's 10 cities reporting lower jobless rates, officials said.

``Businesses are beginning to grow compared to a year ago,'' said Pat Baldoni, job service supervisor at the Simi Valley unemployment office, which serves east Ventura County. ``The economy is probably on a very slow rise, but it's a lot better than it was a year ago at this point.''

The California Employment Development Department, or EDD, reported there were 360,200 county residents working in March, which was up by 700 from February, and up 2,400 from March 1995. The 6.2 percent March jobless rate followed a decline from 7.6 percent to 6.9 percent from January to February.

Although the county's 6.2 percent March jobless rate was equal to that of March 1995, Ali Akbari, professor of economics and director of the Economic Research Center at California Lutheran University in Thousand Oaks, said indicators show the regional economy is gradually improving.

``I'm cautiously optimistic,'' Akbari said. ``I'd rather wait for more data to confirm the trend, but most signs indicate that the overall regional economy is growing, and the recent drop in unemployment rate just confirms the basic overall trend. The most important factor would be to wait and see if these drops will be translated into change in consumer confidence.''

Baldoni cautioned that the competition for jobs was still fierce. Many unemployed residents are forced to accept lower-paying jobs, primarily in the rapidly growing service industry, she said.

The services division recorded a year-to-year gain of 1,100 jobs with manufacturing adding 1,000 jobs, the EDD reported. Government and retail trade each grew by 900 jobs, while other gains were posted in the finance, insurance, and real estate division (400), the transportation and public utilities division (300), and wholesale trade (200).

Construction posted year-to-year losses of 300; mining decreased by 400, while farm employment declined by 800 for a total of 19,200.

The county's 6.2 percent March jobless rate was below the state's 7.7 percent, which declined from 8.2 percent, but higher than the national rate of 5.8 percent, which declined from 6 percent.

Simi Valley's March jobless rate was 5.4 percent; Thousand Oaks, 5.2 percent; Moorpark, 4.7 percent; and Camarillo, 4.9 percent.

Akbari, the economic analyst at California Lutheran University, said it may take six months of employment gains before consumers and businesses are convinced that the days of economic stagnation are finally over.

``It takes about half a year for the business community as well as consumers to digest this trend and have a firm belief that the recession is over,'' he said. ``Then, consumers will spend more money, and businesses will hire more workers instead of paying overtime.''

JOBLESS RATE Ventura County's jobless rate decreased from 6.9 percent in February to 6.2 percent in March. The following is a city-by-city breakdown:

City Feb. March

Simi Valley 5.9% 5.4%

Thousand Oaks 5.7% 5.2%

Moorpark 5.1% 4.7%

Camarillo 5.4% 4.9%

Santa Paula  10.8% 9.9%

Fillmore 9.3% 8.5%

Ventura 5.3% 4.9%

Oxnard 9.7% 8.9%

Port Hueneme 8.5% 7.8%

Ojai 3.6% 3.2%

Source: California Employment Development Department

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Chart: JOBLESS RATE (See text)