Bay Area Unemployment Rates Just Dropped to Record LowsDecember 22, 2017
Having slipped in October, the number of people living in the city of San Francisco with a job increased by 4,600 in November to a record 557,400 and the unemployment rate dropped to 2.3 percent, which is the lowest unemployment rate in San Francisco’s modern history, with the previous low being 2.4 percent which was set in December 1999.
As such, there are now 91,900 more people living in San Francisco with paychecks than there were at the end of 2000, an increase of 120,700 since January of 2010 and 11,500 more than at the same time last year.
In Alameda County, which includes Oakland, employment increased by 5,500 to a record 822,700 last month, which is 14,200 higher versus the same time last year. As such, there are now 130,700 more people living in the Alameda County with paychecks since the beginning of 2010 and the unemployment has dropped to the record low of 2.9 percent which was set in December 2000.
Across the greater East Bay, employment increased by 8,900 to a record 1,367,900 and the unemployment rate dropped to 3.0 percent which is within 0.1 percentage points of the 2.9 percent record low set in December 2000 as well.
Up north in Marin County, the number of employed increased by 500 to 140,400, which is within 500 of the record 140,900 set in December of 2000, and the unemployment rate dropped to a record low 2.2 percent.
And down in the valley, the unemployment rate in San Mateo County dropped to a record low 2.1 percent as the number of employed residents increased by 3,700 to 447,900 while employment in Santa Clara County increased by 8,600 to a record 1,015,900 and the unemployment rate dropped to 2.6 percent and within 0.2 percentage points of 2.4 percent low recorded at the end of 2000.
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