About the Data
The data in this dashboard is directly obtained from the State of California's Employment Development Department via the Local Area Unemployment Statistics (LAUS) report, a Federal-State cooperative effort in which monthly estimates of total employment are provided. Data is uploaded into Socrata manually on a monthly basis.
The unemployment rate indicates the health of Corona's economy. A high unemployment rate indicates that the economy is in a recessionary state, while a low unemployment rate implies the economy is healthy and growing.
How Unemployment Rate is Measured
Corona's unemployment is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force. The Federal Reserve estimates the ‘natural rate of unemployment’ to be between 4.5% and 5.0%.
The current unemployment rate within the City is 2.9%. Corona seeks to keep the unemployment rate below the natural rate of unemployment.
Corona's unemployment rate has steadily decreased since 2010, with a slight increase in unemployment percentage from 2017 to 2018. The Economic Development team at the City of Corona is working it's hardest to ensure new jobs continue to be created within the City.