December 24, 2012

Growth Rate Slows, But San Francisco Adds 700 Jobs In November

Preliminary labor force counts for San Francisco, Marin and San Mateo counties peg the current unemployment rates at 6.7%, 5.8% and 6.2% respectively, down 0.1 points in San Francisco and San Mateo from October to November, unchanged in Marin.

With the size of San Francisco’s labor force remaining unchanged at 476,400, the number of unemployed fell by 700 to 31,900 in November as the number of employed city dwellers increased by 700 to 444,500.

Employment in San Francisco is currently up by 16,700 workers on a year-over-year (YOY) basis versus 19,100 the month before and remains 21,000 workers below a December 2000 dot-com peak (at which point the unemployment rate in San Francisco measured 3 percent).

The unadjusted unemployment rate in California ticked down to 9.2% in November as employment increased by 26,500 workers, the labor force fell by 3,500, and the number of unemployed dropped by 30,100.

Monthly Labor Force Data for Counties: October 2012 (Preliminary) [EDD]
San Francisco Added 2,400 New Workers And Jobs Last Month [SocketSite]
San Francisco Employment Trends And Dot-Com Context [SocketSite]

First Published: December 24, 2012 10:30 AM

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