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March 2009 Monthly Analysis
BAY AREA UNEMPLOYMENT
According to the California Employment Development Department, The unemployment rate in the East Bay was 9.6 percent in February 2009, up from a revised 9.2 percent in January 2009, and above the year-ago estimate of 5.1 percent. This compares with an unadjusted unemployment rate of 10.9 percent for California and 8.9 percent for the nation during the same period. The unemployment rate was 9.7 percent in Alameda County, and 9.3 percent in Contra Costa County.
Unemployment rates in the Bay Area’s other metro areas also increased during this period. San Francisco’s unemployment rate was 7.8 percent in February – up from 7.5 percent in January, and significantly higher than the February 2008 estimate of 4.1 percent. The unemployment rate in San Jose rose to 10 percent in February, up from 9.5 percent in January, and up from 5.1 percent in February 2008.
BAY AREA LABOR FORCE
In a month-over-month comparison, the East Bay’s labor force (number of individuals currently employed or actively seeking employment) gained 4,900 workers to reach 1,311,900 in February 2009. San Francisco’s labor force gained 1,900 workers to reach 978,200, and in San Jose the number of workers rose 2,100 to reach 923,600. In a year-over-year comparison, Bay Area regions continued to see gains in labor force numbers. The East Bay had 30,400 more workers in February 2009 than in February 2008, San Francisco gained 21,200, and San Jose added 33,300 workers.
BAY AREA EMPLOYED RESIDENTS
Between January and February 2009, the number of employed residents (employed persons who reside within the region) fell 200 in the East Bay, fell 1,100 in San Francisco, and fell 3,200 in San Jose. When compared to February 2008, a year-over-year comparison showed the East Bay with 29,700 fewer employed residents, San Francisco with 16,000 fewer and San Jose with 14,000 fewer.
BAY AREA PAYROLL EMPLOYMENT
Between January and February 2009, the East Bay gained 400 payroll jobs (number of jobs located in the specified region, not including those who are self-employed), while San Francisco lost 1,800 and San Jose lost 3,100. Since February 2008, the East Bay has lost 40,900 jobs, San Francisco has lost 30,700 and San Jose lost 26,300. A detailed description of East Bay payroll employment by sector follows in the next section.
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