June 2008 Monthly Analysis
> Employment
BAY AREA UNEMPLOYMENT
According to the California Employment Development
Department, the unemployment rate in the East Bay was 5.7 percent in May 2008,
up from a revised 5.3 percent in April 2008, and above the year-ago estimate of
4.3 percent. This compares with an unadjusted unemployment rate of 6.5 percent
for California and 5.2 percent for the nation during the same period. The
unemployment rate was 5.7 percent in Alameda County and 5.8 percent in Contra
Costa County.
Unemployment rates in the Bay Area’s other metro areas were also up between April and May. San Francisco’s unemployment rate rose to 4.6 percent, from 4.2 percent in April, while unemployment in San Jose climbed to 5.6 percent in May from 5.2 percent in April. In a year-over-year comparison with May 2007, unemployment was higher in all three Bay Area regions.
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) increased by 6,100 workers to reach 1,289,900. San Francisco’s labor force gained 5,300 workers to reach 967,900, and in San Jose the number of rose 6,300 to reach 895,100. In a year-over-year comparison, Bay Area regions continued to see gains in labor force numbers. The East Bay had 20,600 more workers in May 2008 than in May 2007, San Francisco gained 30,600, and San Jose added 23,900 workers.
BAY AREA EMPLOYED RESIDENTS
Between April and May 2008, the number of employed residents (employed persons who reside within the specified region) fell 500 in the East Bay, while in San Francisco there were 1,200 more employed residents, and in the San Jose metro there were 2,400 more. When compared with May 2007, a year-over-year comparison showed the East Bay with 1,500 more employed residents, while San Francisco gained 20,900 and San Jose gained 12,100.
BAY AREA PAYROLL EMPLOYMENT
Between April and May 2008, the East Bay gained 1,100 payroll jobs (number of jobs located in the specified region, not including those who are self-employed), San Francisco gained 3,200 and San Jose gained 4,600. In a comparison with May 2007, the East Bay’s payrolls shrunk by 12,100 jobs, while San Francisco gained 17,800 and San Jose gained 6,500. A detailed description of East Bay payroll employment by sector follows in the next section.
|
