Having sputtered in September, the number of people living in San Francisco with a paycheck jumped by 25,400 last month, driving the unemployment rate, which had been averaging around 2 percent prior to the pandemic but jumped to 12.6 percent in April, back down to 6.9 percent.
That being said, there are still 32,800 fewer employed people in the city than there were prior to the pandemic and 36,600 fewer than at the same time last year. And while the Labor Force count in the city jumped by 18,800 in October to 581,100, that still represents 6,100 fewer people than prior to the pandemic and 8,700 fewer than at the same time last year.
The trend was roughly the same across the other eight Bay Area counties, with the unemployment rate across the East Bay dropping from 9.2 in September to 8.0 percent in October and the blended unemployment rate in San Mateo and Santa Clara counties dropping from 7.0 to 5.9 percent with Santa Clara recording the largest jump in re-employment last month, up 49,000 in October to just over a million employed, an increase of 5.2 percent.
And as such, the blended Bay Area unemployment rate, which was down to 2.3 percent prior to the pandemic, has dropped back down to 6.9 percent with 3,876,200 employed, which is up by 179,600 from September but still 195,200 fewer than prior to the pandemic (and 237,500 fewer employed residents than at the same time last year), with a Labor Force count that rebounded by 142,500 last month to 4,161,600 (which is still down by 56,100, year-over-year).