Unemployment Drops To Record Low

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SAN FRANCISCO—The city of San Francisco’s unemployment rate went from 5.2 percent in November 2013, to 4.8 percent in December 2013, based on preliminary numbers from the California Employment Development Department (EDD).  Mayor Edwin M. Lee released a statement on January 24 responding to the news, via the Mayor’s website.

“Today’s unemployment numbers demonstrate that San   Francisco’s economy continues to recover because of our relentless focus on jobs, fiscal prudence, and the hard work and innovation of our residents.

San Francisco’s unemployment rate today stands at a record low. However, there are still more than 23,000 San Franciscans out of work with even more who are underemployed or who’ve given up looking for work.

Our robust economic recovery creates new revenue to fund vital City services, and it allows us to tackle the significant affordability challenges that still face working and middle class families in our City. That’s why we must continue to pursue an aggressive affordability agenda to build 30,000 new homes by 2020, invest in transportation and education and attract and grow good jobs for all San Franciscans.”

According to the EDD, the state of California’s current unemployment rate sits at 8.3 percent as of December 2013. The city of San Francisco currently has the third lowest unemployment rate amongst the State’s 58 counties.

By LaDale Anderson