With the number of people living in San Francisco with a job pegged at 543,900 last month, a nominal 200 higher than the month before, employment in the city has dropped by 3,300 in the first quarter of the year versus gaining 6,900 in the first quarter of 2016, having gained 5,700 in the first quarter of 2015, and having gained 5,700 in the first quarter of 2014 as well. In fact, it was the weakest first quarter since 2009.
That being said, there are still 78,400 more people living in San Francisco with paychecks than there were at the end of 2000, an increase of 107,200 since January of 2010 and 4,300 more than at the same time last year, but the year-over-year gains have been trending down since the fourth quarter of 2014, with last month’s year-over-year gain of under a percent the smallest in eight years.
The unemployment rate in San Francisco, which hit 8.8 percent in 2010, having dropped to 2.4 percent in 1999, is holding at 3.0 percent.
In Alameda County, which includes Oakland, employment increased by 5,200 in March to 808,400 and is running 9,100 higher versus the same time last year, with an unemployment rate of 3.9 percent and 116,400 more employed residents since the beginning of 2010.
Employment across the greater East Bay increased by 8,700 in March to 1,344,000 and the unemployment rate dropped to 3.9 percent as well.
Up north, the unemployment rate in Marin County held at 3.0 percent as employment inched up by 300 to 136,900.
And down in the valley, employment in San Mateo County was relatively unchanged (up by 100 to 436,900) but moved enough to drop the unemployment rate from 2.8 to 2.7 percent while employment in Santa Clara County ticked up by 3,800 to 990,000 and the unemployment rate dropped to 3.4 percent.