Having ticked up to 5.7% in June, the unemployment rate in San Francisco ticked up another 0.2 points to 5.9% in July as the number of unemployed in San Francisco increased by 1,100 to 28,800. The unemployment rate in Marin and San Mateo increased last month as well, up 0.2 and 0.3 points to 5.3% and 5.7% respectively.
While the ranks of the unemployed ticked up, however, the number of employed in San Francisco ticked up even more, increasing 2,100 to 456,600 as the total labor force increased by 3,200 to 486,400.
Employment in San Francisco is currently up by 17,300 workers on a year-over-year basis and is now only 7,900 workers below a December 2000 dot-com peak at which point the unemployment rate measured 3 percent. The unemployment rate in San Francisco peaked at 10.1 percent in January of 2010 when 49,900 fewer San Francisco residents were employed than today.
The unadjusted unemployment rate in California ticked up to 9.3% in July as the number of employed fell by 92,400 and the number of unemployed increased by 89,600.
∙ SF Employment Slips In June To 10,000 Workers Below Peak [SocketSite]
∙ San Francisco Employment Trends And Dot-Com Context [SocketSite]
∙ Monthly Labor Force Data for Counties: July 2013 (Preliminary) [EDD]
Absolutely amazing that we’ve added this many jobs with zero negative impact to traffic.