For the second month in a row, the number of people living in San Francisco with a job slipped. And while it was a nominal drop of a hundred, from 534,700 to 534,600, it was the first December without a gain since 2009 and versus an average December increase of 2,920 over the past six years.
But with the labor force having slipped by 400, and the number of unemployed by 200, the unemployment rate in the city remained at 3.3 percent, the second lowest unemployment rate in San Francisco since December 2000.
There are now 69,100 more people living in San Francisco with paychecks than there were at the height of the dot-com peak in 2000, up by 14,100 over the past year and an increase of 97,900 since January of 2010, which is a 22 percent increase in employment in just under six years according to data provided by California’s Employment Development Department. But the growth rate has been slipping for five months straight.
At the same time, East Bay employment ticked up by 1,000 in December to 1,310,900, with employment in Alameda County, which includes Oakland, accounting for 80 percent of the gain and now measuring 786,200, an increase of 11,300 over the past year.
And with the labor force in Alameda County having increased by 200 last month to 821,900, the County’s unemployment rate has dropped to 4.3 percent, down from a revised 4.4 percent in November and versus 5.0 percent in December 2014.