February 2008 Monthly Analysis
> Employment
BAY AREA EMPLOYMENT
NOTE: Due to the U.S. Department of Labor’s annual revision process, employment data in this monthly report may differ from previously released data. Labor Force, Unemployment, and Employed residents data for January 2003-December 2006 will be updated March 21. Readers will notice large increases and decreases between December 2006 and January 2007 as a result of these data changes. Our next Monthly Analysis will reflect the complete data revision. Payroll/Industry employment numbers are not affected by this revision and are accurate.
BAY AREA UNEMPLOYMENT
The unemployment rate in the Oakland-Fremont-Hayward MD was 5.3 percent in January 2008, up from 5.0 percent in December 2007, and above the year-ago estimate of 4.7 percent. This compares with an unadjusted unemployment rate of 6.3 percent for California and 5.4 percent for the nation during the same period. The unemployment rate was 5.2 percent in Alameda County and 5.4 percent in Contra Costa County.
Unemployment rates in the Bay Area’s other metro areas also rose between December 2007 and January 2008. San Francisco’s unemployment rate
increased from 4.1 percent to 4.3 percent during the period, while unemployment in San Jose was up from
5.1 percent in December 2007 to 5.3 percent in January 2008.
San Francisco's unemployment rate was
unchanged from the January 2007 estimate, while the rate in
San Jose was up from 4.8 percent when
compared to January 2007.
BAY AREA LABOR FORCE
In a month-over-month comparison, between December 2007 and
January 2008 the East Bay’s labor force (number of individuals currently employed or actively seeking employment) decreased by 9,500 workers to reach 1,284,800. San Francisco’s labor force decreased by 4,600 workers to reach 956,700, and in San Jose the number of workers fell 1,000 to reach 887,900. In a year-over-year comparison, Bay Area regions continued to see gains in labor force numbers. The East Bay had 7,200 more workers in January 2008 than in January 2007, San Francisco gained 15,200, and San Jose added 11,900 workers.
BAY AREA EMPLOYED RESIDENTS
Between December 2007 and January 2008, the number of employed residents (employed persons who reside within the specified region) decreased 12,900 in the East Bay and 6,800 in San Francisco, and 3,000 in the San Jose metro. An annual comparison showed the East Bay with 700 fewer employed residents than in January 2007, while San Francisco gained 12,200 and San Jose gained 7,000.
BAY AREA PAYROLL EMPLOYMENT
Between December 2007 and January 2008, seasonal payroll losses occurred in all three Bay Area regions. During this period, the East Bay lost 24,600 payroll jobs (number of jobs located in the specified region, not including those who are self-employed), San Francisco lost 19,700 and San Jose lost 13,300. In a comparison with January 2007, payrolls grew throughout the Bay Area, with the East Bay adding 800 new jobs, San Francisco adding 20,800 and San Jose adding 11,200. A detailed description of East Bay payroll employment by sector follows in the next section.
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