Where’s the Sunshine? Well, according to the U.S. Bureau of Labor Statistics (BLS)… “Total nonfarm payroll employment (U.S.) increased by 235,000 in February (2017), and the unemployment rate was little changed at 4.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment gains occurred in construction, private educational services, manufacturing, health care, and mining.”
We won’t get statewide numbers until March 24th. All we have to look at right now is the January data and it’s not pretty. Employment in the Bay Area peaked in October of 2016 at 4,036,900 and since then we’ve lost 93,800 jobs for a 2.3% drop in employment over the past three months. It’s not unusual for employment to drop at year end… just not by this much. See the SF Bay Area Employment Trends here.