Monday, January 25, 2021

San Francisco/Bay Area Labor Force Down 123K

 That's an eighth-of-a-million people no longer in the labor force. 

Either moved or discouraged, no longer seeking employment. Wow.

From SocketSite, January 22:

As we outlined last month, while the unemployment rate in San Francisco dropped in November, the number of people living in San Francisco with a paycheck (i.e., employment) was actually on the decline, as was the case across the Bay Area as well.

And in fact, the number of employed people living in San Francisco dropped by 10,800 over the past two months to 529,900, ending 2020 with 48,200 fewer employed residents than at the beginning of the year and 23,100 fewer people in the labor force (566,200) for an unemployment rate of 6.4 percent (versus 1.9 percent in December of 2019).....