Employment in San Francisco has reached another all-time high as the number of San Francisco residents with a paycheck jumped by 5,500 last month – the largest increase in a single month since the end of 2009 – and now totals 476,300 with an unemployment rate of 4.7 percent, according to California’s Employment Development Department.
That’s 19,200 more people employed in San Francisco than at the same time last year. And that’s and 10,800 more people than were employed in the city at the height of the dot-com peak in December 2000 when the unemployment rate measured 3 percent based on a labor force of 480,000 versus 499,700 last month.
The unemployment rate in San Francisco topped out at a little over 10 percent in January of 2010 when 68,600 fewer San Francisco residents were employed than today.
The unemployment rates in Marin and San Mateo dropped in August as well, to 4.2 percent and 4.3 percent respectively, as did the unadjusted unemployment rate for California which dropped from 7.8 to 7.4 percent.