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14.03.2015
Since hitting bottom, it has added nearly 221,000 jobs, or about 80 percent of the losses, this newspaper's analysis of the EDD figures shows.AdvertisementIn February, the South Bay regained all the jobs it lost in the downturn. The quality of the jobs might not be improving as fast as the jobless rate."Contact George Avalos at 408-373-3556 or 925-977-8477.
The nine-county Bay Area added nearly 103,000 jobs in the past year, a gain of about 3 percent. The Bay Area now has 5 percent more jobs than before the recession began in July of 2007, the best recovery of any region in the state. Within the Bay Area, San Francisco, San Mateo and Santa Clara counties are leading the recovery, with the SF Metro Area (San Francisco, San Mateo and Marin counties) at about ten percent above pre-recession peak employment and Santa Clara County about seven percent above. The rate of employment is now above the 2007 peak in both the San Francisco and San Jose metro areas, but it remains below pre-recession levels in the East Bay and North Bay.
In global comparisons, the Bay Area’s $630 billion total economy is just smaller than Switzerland’s, which is $651 billion. California has added 1.4 million jobs since December of 2009 and is growing faster than the nation as a whole.


Average Big Data Engineer salaries for job postings in San Francisco Bay Area, CA are 33% higher than average Big Data Engineer salaries for job postings nationwide.
The revised numbers were all adjusted for seasonal changes."This is a blowout number for the Bay Area job market," said Stephen Levy, director of the Palo Alto-based Center for Continuing Study of the California Economy. Housing costs are out of reach for many, some parts of the Bay Area still haven’t returned to their pre-recession job levels, unemployment remains stubbornly high in a few places and there are too few middle-wage jobs. This is more than Los Angeles County (96,000) even though LA County has just under 10 million people and the Bay Area about 7.4 million. While growing, the North Bay and East Bay have yet to return to the pre-recession employment levels.
That would make the Bay Area – if it were its own nation— the world’s 21st largest economy.
Santa Clara County and the San Francisco-San Mateo-Marin region remain the most robust job markets in the Bay Area. Both areas were more heavily impact by the housing crash and are not experiencing as much growth in tech jobs.


But the revised numbers also show that for the first time in the recovery, the East Bay is showing solid job growth.
The Bay Area has increased its national share of venture capital funding, an important feedstock for the next round of start-ups. We will see job growth slow to a more normal pace."AdvertisementThat would mean a yearly pace for job growth in the Bay Area's employment market of about 2 percent to 3 percent. The region also suffered a loss of 600 manufacturing jobs and 600 positions in private education services.The San Francisco-San Mateo region added 2,900 technology jobs, 1,800 health care positions and 1,000 retail jobs. The primary area of weakness came in hotels and restaurants, which shed 2,600 jobs.Contact George Avalos at 408-859-5167.



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