Over nearly the last two years, unemployment has fallen in the seven urban regions of the Bay Area, according to the latest data released Friday by the California Employment Development Department.
Unemployment was the lowest in the San Francisco-Redwood City-South San Francisco area, which consists of San Francisco and San Mateo counties, at 2 percent in April. That’s down from 2.7 percent in May 2017.
In San Mateo County alone unemployment was 1.9 percent last month, the lowest of any Bay Area county, according to state employment officials.
In the Oakland-Hayward-Berkeley area, which consists of Alameda and Contra Costa counties, the jobless rate last month was 2.7 percent, down from 3.5 percent nearly two years ago.
The jobless rate in the San Jose-Sunnyvale-Santa Clara region, consisting of Santa Clara and San Benito counties, was 2.4 percent, down from 3.1 percent in May 2017.
In the Santa Rosa area, unemployment dropped to 2.6 percent from 3 percent. In the Napa area, the jobless rate fell to 2.7 percent from 3.2 percent and in the Vallejo-Fairfield area the jobless rate was 3.7 percent, down from 4.4 percent.
Unemployment in the area around San Rafael was 2.1 percent in April, down from 2.7 percent about two years ago.
Availability of skilled employee determines wages.
As labor pool shrinks, wages will naturally rise as employers become willing to pay up for skill set they need their employees to have.
I was talking to a truck driver for my company, and he was telling me they had a job fair to hire more drivers. At this fair, they weren’t just taking applications and promising to call people back, they were hiring on the spot. They were also offering up to a 5 thousand dollar signing bonus. This is a Teamsters union driving job, no less.
This labor market is the most worker friendly one in my lifetime. The potential hiree holds more cards than I can remember, because the pickings are so tight.
It would seem that, when the flood of cheap labor dries up, the corporations become more flexible on how much they are willing to pay people to do the job. Who knew about that whole “supply and demand” thing?
My employer is so hard up for industrial electricians I can get a several thousand dollar cash award just for referring a person who is subsequently hired.
Thank you Donald
Thank you, President Trump.
Elections have consequences.
That’s not possible. Surely the ultra-liberal policies of the socialist republic of California should have driven all business out of state by now. Oh wait, this is good news so ignore all that and praise trump.
Promises made, promises kept…MAGA
Thank you Donald Trump. Democratic Congress can’t stop their lollygagging because they got so accustomed to it under Obama it became their way of life.
Actually, the economic recovery started years ago under the Obama administration. The only thing you can credit Trump with is not screwing it up…yet.
LOL – it’s amazing how much better the Blue States are doing under Trump than the Red States…
Of coures, the Blue States were also doing great under Obama
I wonder if the Red States will figure it out and ask – “Why do these dang Blue States keep doing better than us no matter whose in charge…”
It’s called geography and logistics.. Trump has only began to restore American confidence which leads to investment which leads to job creation and increased tax revenue. It’s a good time to buy back into the American dream folks don’t be fooled by distractions in politics. It’s all there for anyone who wants it
Thank you, Mr. President!
I hope S & Patty are joking…he has done nothing other than to try to kill the gains this Bull Market have been producing
LOL these numbers have nothing to do with Donald Trump nor Washington DC. You should be thanking the Silicon Valley and the fact that the State of California is the fifth largest economy in the world.
As you should all know by now they stop counting people who were unemployed when their unemployment benefits run out.
They don’t of course count people who have left the Bay Area because of it’s hyper-inflation.
The tech companies still whine about not enough H1B visas because we have a shortage of US tech workers. But I know many experienced tech workers who can’t find work because what the tech companies are actually looking for are cheap foreign workers.
The numbers are “fake news”. 😉
If you’re a tech worker and you can’t find work in the Bay Area, something is wrong with your skill set, your work ethic or your personality. Companies are paying top dollar for anyone who can help. They need H1B’ers because they can’t find enough qualified people.
Joatmeal, there are a number of other reasons experienced tech folks won’t get hired. Often it is age. Young managers don’t want grandpa around. This has been an issue since the 1990s. Interviews may offered but the jobs may be at the other end of the Bay Area, IOW, a horrible commute. Many of these companies should have satellite campuses in the Bay Area rather than having their subjects all come to the “castle”. 😀
And then we have had poor training for college students. Many of the professors teaching computer science have never held an actual job in the field, they only teach theory. Some grads realize this when they interview for a job and some won’t last a year even if they get the job. Many weren’t even cut out for the field as it’s a bit like music, either you have a talent for it or you don’t.
BTW, being paid top dollar means you need to perform like you’re being paid top dollar (or more) or you won’t keep that job. That’s a lot of pressure many are unprepared for.
Great job Mr. President. You got my vote. Trump 2020
Trump and his minions didn’t believe the job numbers when Obama was the president and now they believe it. Laughable!
Go Trump !
All the Trumpsters will tie themselves in knots trying to figure out how to absolve Trump for the coming recession!
Excellent news unless you’re counting people who don’t want to work.
TRUMP 2020
Thank You President Trump! Making America Great Again!
A friend of mine recently lost his job. He thought he’d get depressed, but says he couldn’t be happier. He’s golfing all day – going to ballgames. More than enough time to hit the gym. Doing what he wants, when he wants, how he wants. He’s at an age where early retirement is kicking in. Having worked his butt off all his life, he now understands why some people don’t want to work. It’s relaxing. He obviously can afford it, and I couldn’t be happier for him…
Who exactly is working? Are these part time jobs being filled by people already working looking for extra cash? These polls don’t matter if the data is askew.
Cadet bonespurs doesn’t deserve the credit.
Thank you Mr. President.