San Fran Unemployment Rate Continues Drop

SAN FRANCISCO—According to a recent report from Kidder Matthews, market drivers for the San Francisco area include employment, construction, and preleasing, according to Kidder Mathews. As for the spotlight? It’s no secret that San Francisco and the rest of the Bay Area’s economy is heavily dependent on the technology sector, says the firm.

San Francisco’s unemployment rate continues to drop while the population continues to grow, says the firm’s recent report. San Francisco unemployment rates have decreased from 5.2% in November to 4.8% in December.  In the past year, San Francisco created 16,000 jobs while its population grew by approximately 10,000 people, the report says. “These trends are expected to continue until San Francisco reaches a population of one million, at which point it should level out. The California unemployment rate stayed consistent from November to January at 8.5%. The national employment rate has fallen from 7% in November to 6.7% in February.”