While the unemployment rate in San Francisco ticked up from 4.6 percent to 4.9 percent in July due to a sharp increase in the size of the city’s labor force, the largest increase in over four years, the number of San Francisco residents with jobs increased by 3,600 last month and employment in San Francisco has hit another all-time high.
The number of employed San Francisco residents now totals 470,800. That’s 5,300 more people employed and with paychecks than at the height of the dot-com peak in December 2000 when the unemployment rate in San Francisco measured 3 percent based on a labor force 0f 480,000, versus 495,200 last month, according to California’s Employment Development Department.
The unemployment rate in San Francisco topped out at a little over 10 percent in January of 2010 when 63,100 fewer San Francisco residents were employed than today.
The unemployment rates in Marin and San Mateo also ticked up last month, to 4.4 percent and 4.7 percent respectively, but employment increased as well. And the unadjusted unemployment rate for California ticked up from 7.3 to 7.8 percent as statewide employment dropped by 10,900 and the labor force grew by 99,300.