With a typical influx of summertime residents and workers in play, the number of people living in San Francisco with a job increased by 5,000 in July to 546,600 while the number of unemployed increased by 1,500 to 19,300 which caused the unemployment rate to tick up from 3.2 to 3.4 percent.
There are now 81,100 more people living in San Francisco with paychecks than there were at the end of 2000, an increase of 109,900 since January of 2010 and 1,800 more than at the same time last year.
But the year-over-year gain in employment has been trending down since mid-2015 and is now at its lowest level in nearly eight years, with last month’s gain of 1,800 roughly an eighth of the year-over-year gain registered at the same time last year (13,800) and versus a year-over-year gain of 21,900 in July of 2015.
In Alameda County, which includes Oakland, employment increased by 5,700 to 809,500 in July, which is 4,300 higher than on a year-over-year basis and 117,500 more employed residents since the beginning of 2010. But the unemployment rate ticked up from 4.0 to 4.3 percent on account of the aforementioned seasonal influx of residents.
Across the greater East Bay, employment increased by 9,500 to 1,345,700 while the unemployment rate ticked up to 4.4 percent.
Up north, while the unemployment rate in Marin County ticked up from 3.1 to 3.4 percent, employment increased by 1,300 to 137,000.
And down in the valley, while the unemployment rate in San Mateo County ticked up to 3.2 percent, the number of employed residents increased by 4,000 to 438,900 while employment in Santa Clara County increased by 3,000 despite the unemployment rate ticking up from 3.5 to 3.8 percent.