SAN FRANCISCO—The City of San Francisco’s unemployment rate has dropped to a record low of 4.4 percent from April 2014 compared to the 5.3 percent from March 2014. The drop in the unemployment rate is based on preliminary numbers that were released by the California Employment Development Department (EDD).
San Francisco Mayor Edwin M. Lee released a statement on May 16 in response to the news.
“I have always said that the biggest income gap is between those who have a job and those who do not. That’s why making sure our residents have access to jobs and opportunities will continue to be among my highest priorities. Today’s unemployment numbers demonstrate, once again, that our economic policies are working and that more people than ever are sharing in the success of our City. Our success is possible because of the hard work and innovation of our homegrown San Francisco companies and our residents.
We will continue to aggressively pursue policies that benefit our low and middle income families through our affordability agenda. We will pursue policies that don’t put our economic recovery at risk, like raising the minimum wage responsibly to help our lowest paid workers, small businesses and nonprofit organizations alike.
While our economic success is creating new revenue to fund vital City services, we must also remain committed to the fiscal discipline we have instilled in our spending and budgeting while we invest in education, transportation and housing for everyone,” said Mayor Lee.
The City currently has the third lowest amongst the states 58 counties.
By LaDale Anderson
