With the number of San Francisco residents with jobs having increased by 3,400 since the beginning of the year, the unemployment rate in San Francisco has dropped to 5.2 percent and employment in the city is within 1,000 people of San Francisco’s all-time high.
With a current labor force of 490,100, the number of employed San Francisco residents now totals 464,600, an increase of 11,500 residents with jobs over the past year and within 900 of the 465,500 people employed at December 2000’s dot-com peak when the unemployment rate in the city measured 3 percent.
The unemployment rate in San Francisco topped out at a little over 10 percent in January of 2010 when 56,900 fewer San Francisco residents were employed than today.
The unemployment rates in Marin and San Mateo ticked up 0.1 percentage points to 4.8 percent and 5.0 percent respectively in February while the unadjusted unemployment rate for California was unchanged at 8.5 percent as a 70,300 person increase in the labor force was met with 74,700 new jobs.