With the number of San Francisco residents with jobs having increased by 10,000 over the past year, the unemployment rate in the city has dropped to 4.4 percent and employment is at all-time high.
The number of employed San Francisco residents now totals 465,900, that’s 400 more than the 465,500 people employed at December 2000’s dot-com peak when the unemployment rate in the city measured 3 percent. Dropping by 3,400 people last month, the labor force in San Francisco currently totals 487,500 versus 480,000 at the end of 2000, according to California’s Employment Development Department.
The unemployment rate in San Francisco topped out at a little over 10 percent <strong>in January of 2010 when 58,200 fewer San Francisco residents were employed than today</strong>.
The unemployment rates in Marin and San Mateo dropped 0.8 percentage points to 3.9 percent and 4.2 percent respectively in April, and the unadjusted unemployment rate for California fell to 7.3 percent, in part due to a shrinking of the labor force by 187,600.