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Bay Area adds jobs, but pace of growth is slowing

The Bay Area gained several hundred jobs during September, but the pace of the monthly job growth was the smallest in about a year, state labor officials reported Friday.

The nine-county region added 800 jobs last month, which turned out to be the first time in a year that the Bay Area’s monthly job gains were below the 1,000 level, according to this news organization’s analysis of a report from the state Employment Development Department.

The South Bay, East Bay, and San Francisco-San Mateo region posted job gains during September, but those increases were on the smaller side of what has become customary for the last several years in those three major employment hubs, the EDD report showed.

Despite a one-month indicator of sluggishness, experts maintain that the overall trend in the Bay Area remains robust.

“The Bay Area continues to add jobs and growth much more quickly than the state as a whole and the nation,” said Robert Kleinhenz, an economist and executive director of research with Beacon Economics.

in September, the San Francisco-San Mateo metro area added 1,300 positions, while the South Bay gained 400 jobs, and the East Bay increased employment totals by 200 positions, according to the state report. All the numbers were adjusted to account for seasonal variations.

The California job market achieved multiple all-time records in September, the EDD stated.

The statewide unemployment rate improved to its lowest level on record, 4 percent. Plus, California has now added jobs for 115 consecutive months, a streak that now tops the lengthy expansion of the 1960s.

In September, California added 21,300 non-farm payroll jobs, the EDD reported.

Over the one-year period that ended in September, California’s job totals grew by 1.9 percent.

The Bay Area, though, surpassed the state in the rate of its job growth. During the same 12 months, the Bay Area’s job market grew 2.5 percent. The East Bay matched the state, also growing 1.9 percent.

Both the South Bay and the San Francisco-San Mateo metro area far outpaced California. Santa Clara County’s job totals expanded 3.1 percent, while the San Francisco-San Mateo region grew at an annual rate of 3.4 percent.

“That strong growth is largely the result of contributions from the tech sector,” Kleinhenz said.

 

 

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