Job losses jolted the Bay Area during March, and a review of how the region’s employment market is doing in 2018 suggests the area economy has lost some steam so far this year, an unsettling assessment that emerged from state labor statistics released on Friday.
The Bay Area lost 2,300 jobs in March, a downturn that spread to Santa Clara County, which shed 1,200 positions and the East Bay, which lost 700 jobs, the state Employment Development Department reported. The San Francisco-San Mateo region also was weak, gaining a paltry 100 positions. All the numbers were adjusted for seasonal variations.
Over the one-year period that ended in March, Santa Clara County’s job market was the strongest among the nine-county region’s three major urban centers.
During those 12 months, Santa Clara County experienced a 2.6 percent increase in its total jobs, while the increase in job counts was 1.7 percent in the East Bay and 1.6 percent in the San Francisco-San Mateo region. The Bay Area job market grew 1.8 percent during the one-year period that ended in March.
Nevertheless, the pace of job gains so far in 2018 is considerably weaker than what occurred over a similar period in 2017, this news organization’s analysis of the state employment figures shows.
During the first three months of 2018, the Bay Area averaged a gain of roughly 5,700 jobs a month, down from an average of 8,100 jobs a month over the same three months in 2017.
The East Bay averaged gains of 2,500 a month so far this year, compared with an average of 3,200 a month in the first three months of last year. Santa Clara County has averaged a gain of 1,700 jobs for the first three months of this year, below the average of 1,800 jobs a month over the first three months of …read more
Source:: The Mercury News – Business