With 2018 having ended the year with Bay Area employment at an all-time high, the number of people living in San Francisco with a paycheck has since inched up 700 to a record 574,900 while the unemployment rate in the city, which ended the year at a record low of 2.1 percent, inched up to 2.4 percent as the labor force increased by 2,500 to 589,100.
And as such, there are now 138,200 more people living in San Francisco with paychecks than there were at the start of 2010 and 20,200 more than at the same time last year, but the rate of change has slowed down over the past quarter.
In Alameda County, which includes the City of Oakland, the estimated number of people living in the county with a paycheck has slipped by 1,500 over the past two months to 832,100 but remains 15,300 above its mark at the same time last year, and 139,300 more than at the start of 2010, with an unemployment rate of 3.1 percent.
Across the greater East Bay, including Solano County, total employment now totals 1,585,800, which is 26,300 above its mark at the same time last year with an unemployment rate of 3.4 percent.
Up in Marin, the number of employed residents has slipped by 600 over the past two months to 138,800 but remains 2,300 above its mark at the same time last year with an unemployment rate of 2.5 percent.
And down in the valley, employment in San Mateo County has inched up by 400 to a record 454,800, which is 15,500 above its mark at the same time last year, with an unemployment rate of 2.2 percent, while employment in Santa Clara County increased by 4,200 to a record 1,038,200, which is 26,300 more than at the same time last year, with an unemployment rate of 2.7 percent, resulting in a blended unemployment rate of 2.6 percent across Silicon Valley and 2.9 percent across the Bay Area as a whole with a record 4,118,100 people employed (which is 91,600 more than at the same time last year).
That being said, keep in mind that Bay Area home sales actually declined last year. And in San Francisco, pending sales remain down on a year-over-year basis, despite an increase in inventory levels, but have started to pick up steam.