Having slipped in June, the net number of people living in San Francisco with a paycheck increased by 9,800 in July to 564,200. As such, there are not only 42,300 more employed residents in San Francisco than there were at the same time last year but 85,500 more employed residents than there were in April of 2020 when the pandemic-driven unemployment rate peaked at 13.0 percent.
At the same time, there are still 6,600 fewer employed residents in San Francisco than there were prior to the pandemic, with 7,500 fewer people in the labor force (576,400) and 13,400 fewer people in the labor force than in October of 2019 when the local labor force peaked with an unemployment rate of 2.1 percent, which was the same unemployment rate as in July.
The number of East Bay residents with a paycheck increased by 14,600 in July to 1,535,100, representing 77,600 more employed residents than at the same time last year and over 230,000 more employed than in April of 2020, but still 24,400 fewer than prior to the pandemic with 25,700 fewer people in the labor force.
Employment in San Mateo and Santa Clara counties increased by 7,700 and 13,700 in July, respectively. And as such, there are not only 95,100 more employed people in the Valley (1,477,700) than there were at the same time last year and nearly 216,000 more employed than in April of 2020, but only 400 fewer employed residents in the Valley than there were prior to the pandemic and 5,600 fewer people in the labor force.
Employment across Marin, Napa and Sonoma counties increased by 3,900 in July to 440,300, representing 21,900 more employed residents spread across the northern counties than there were at the same time last year, and 73,000 more employed residents than in April of 2020, but there are still 13,400 fewer employed residents than there were prior to the pandemic with 15,100 fewer people in the combined labor force (451,300).
And having increased by a combined 49,700 in July, the total number of Bay Area residents with a job now totals 4,017,300, which represents 236,900 more employed Bay Area residents than there were at the same time last year, over 600,000 more employed since the second quarter of 2020, and only 44,800 fewer employed Bay Area residents than there were prior to the pandemic having hit (4,062,100), with an unemployment rate of 2.5 percent.
But there are still 53,900 fewer people in the labor force than there were prior to the pandemic and 94,000 fewer than in October of 2019 when the local labor force peaked. We’ll keep you posted and plugged-in.