Bay Area Employment Slipped Last Month, But…May 20, 2022
Having increased by 14,300 in the first quarter of 2022, the net number of people living in San Francisco with a paycheck ticked down by 2,900 in April to 555,100. That being said, there are still 53,100 more employed residents in San Francisco than there were at the same time last year and 76,400 more than there were in April of 2020, when pandemic-driven unemployment peaked at 13.0 percent, but 15,700 fewer than there were prior to the pandemic with 16,500 fewer people in the labor force (567,400) for an unemployment rate of 2.2 percent, which was down from 2.5 percent in March due to a decrease in the labor force.
The number of East Bay residents with a paycheck decreased by 16,500 last month to 1,520,600, which represents 38,900 fewer employed residents than prior to the pandemic but 97,100 more than at the same time last year and 216,900 more employed residents than in April of 2020, with a blended unemployment rate of 3.1 percent.
Employment in San Mateo and Santa Clara slipped by 2,600 and 4,800 last month respectively. And as such, while there are now over 115,000 more employed people in the Valley (1,458,200) than there were at the same time last year, and nearly 200,000 more employed than in April of 2020, there are still 19,900 fewer employed residents than prior to the pandemic, with 25,900 fewer people in the labor force, for an average unemployment rate of 2.0 percent.
Total employment across Marin, Napa and Sonoma counties dropped by 4,900 last month to 433,200, representing 24,800 more employed residents than there were at the same time last year and 66,200 more than in April of 2020, but 20,500 fewer than there were prior to the pandemic with 22,300 fewer people in the combined labor force (444,100) for an unemployment rate of 2.5 percent.
As such, the total number of Bay Area residents with a job decreased by 31,700 in April to 3,967,100, representing 292,200 more employed Bay Area residents than there were at the same time last year, with 555,900 Bay Area jobs having been recovered since the second quarter of 2020 and total employment is back to 97 percent of its pre-pandemic count, but there are still 95,000 fewer employed Bay Area residents than there were prior to the pandemic having hit (4,062,100) and the labor force is down by over 105,000 to 4,068,800 for an average unemployment rate of 2.5 percent.
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