EMPLOYMENT
The
unemployment rate in the Oakland-Fremont-Hayward MD was 5.0 percent in July
2007, up from 4.7 percent in June 2007, and above the year-ago estimate of 4.8
percent. This compares with an unadjusted unemployment rate of 5.5 percent for
California and 4.9 percent for the nation during the same period. The
unemployment rate was 5.0 percent in Alameda County and 4.9 percent in Contra
Costa County, according to the California Employment Development Department.
Unemployment
rates in the Bay Area’s other metropolitan areas ticked up slightly from June
to July 2007, with an increase from 4.1 to 4.3 percent in San Jose, and from
4.8 to 5.0 in San Francisco. These numbers are slightly higher when compared
with July 2006, and marked the first time any of the Bay Area regions saw
unemployment rates of 5.0 percent or above since February 2006.
In
a month-over-month comparison, labor force numbers in each of the Bay Area
regions grew (number of individuals who are currently employed or actively
seeking employment). The East Bay gained 8,300 workers between June and July of
2007, San Francisco gained 7,400 and San Jose gained 9,000.
In a year-over-year comparison, Bay Area regions continued to see substantial gains in labor force numbers. When compared with July 2006, in July 2007 the East Bay had 17,400 more workers, San Francisco 24,600 and San Jose, 15,800.
Between June and July 2007 all three Bay Area regions saw gains in the number of employed residents (employed persons who reside within the specified region). In the East Bay there were 4,300 more residents employed in July than in June, in San Francisco 5,400 more, and 6,800 more in San Jose. In a year-over-year comparison with July 2006, the East Bay had 13,900 more employed residents, San Francisco, 24,100 and San Jose had 14,100 more employed residents.
Between June 2007 and July 2007, all Bay Area regions saw losses in payroll employment due to seasonal layoffs in education and some atypical losses in construction and related finance.
|
