Employment in San Francisco has hit another all-time high as the number of city residents with paychecks increased by 4,300 in October and now totals 481,900 with an unemployment rate of 4.3 percent, the lowest unemployment rate since 2008.
That’s 25,500 more residents employed in San Francisco than at the same time last year. And that’s and 16,400 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 503,800 last month, according to California’s Employment Development Department.
The unemployment rate in San Francisco topped out at a little over 10 percent in January of 2010 when 74,200 fewer San Francisco residents were employed than today.
The unemployment rates in Marin and San Mateo were unchanged in October, holding at 3.9 percent and 4.1 percent respectively, while the unadjusted unemployment rate for California ticked up from 6.9 to 7.0 percent.