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Bay Area becomes 4-million-job economy as hiring boom widens

by George Avalos - Bay Area News Group - 09/21/2018
 
"Bay Area becomes 4-million-job economy as hiring boom widens "
 
For the first time in its history, the Bay Area has 4 million or more jobs, powered by a hiring boom in the nine-county region during August that marked the most robust month for hiring in more than two years, state labor reports revealed on Friday.
Santa Clara County, the East Bay and the San Francisco metro region all posted sturdy employment gains during August, the stateís Employment Development Department reported.
The Bay Area added 12,900 payroll jobs in August, marking the best month for hiring since July 2016. The East Bay added 5,600 positions, Santa Clara County gained 2,500 jobs and the San Francisco-San Mateo metro region added 2,300 jobs in August, the EDD figures showed. All the numbers were adjusted for seasonal variations.
Compared with the regionís last major and sustained burst of hiring, the height of the dot-com boom, the Bay Area now has 397,700 more jobs than that peak period, which was marked by the roughly 3.61 million payroll jobs the area had in December 2000.

The Bay Area now has added jobs for 16 consecutive months, and last suffered a job loss in April 2017, this news organizationís analysis of the EDD figures show.
California added 44,800 payroll jobs in August, which means the Bay Area, once again settling into the role of the Golden Stateís economic powerhouse, accounted for 26 percent, or more than one-fourth of all the jobs created statewide last month.
The unemployment rate in California has now held steady for five straight months at 4.2 percent, a record low based on data sets that extend back four decades to 1976.

 
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