The Bay Area saw modest employment gains in October, but employers in California shed 1000’s of jobs last month, a troubling sign that regional and state labor markets are heading into choppy economic waters.
Bay Area employers added 800 jobs in October, with several hundred jobs added each within the South Bay and the San Francisco-San Mateo region, but 1000’s of jobs lost within the East Bay, the state Department of Employment Development reported on Friday.
California employers cut 5,500 jobs in October, the state EDD reported. The numbers have been adjusted for seasonal fluctuations.
The national unemployment rate worsened to five.4% in October, in comparison with 5.3% in September. The unemployment rate in October was the very best in California in nearly three years.
Here's how the Bay Area's three largest urban centers fared by way of jobs gained or lost in October. All figures have been adjusted for seasonal fluctuations.
– The South Bay added 1,100 jobs in October.
— The San Francisco-San Mateo region added 1,000 jobs.
– The East Bay lost 2,500 jobs in October.
California's 5.4% unemployment rate was the very best for the closely watched benchmark since December 2021, because the state was still attempting to get better from the fallout from coronavirus-related business shutdowns.
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