SFCED | San Francisco Center for Economic Development


Bay Area and California Job Markets Are Far Stronger Than First Thought

The Bay Area and California job markets were far stronger in 2012 than initially thought, according to a new government report released Friday, an indication that the region’s economic upswing is on solid footing.

And that employment surge persisted in January, the state’s Employment Development Department reported Friday. During January, the Bay Area added 4,800 jobs, led by strong gains in the technology dominated South Bay and San Francisco-San Mateo-Marin metro area.

The EDD in its report also disclosed that the Bay Area actually powered to a gain of 113,000 jobs during 2012, according to newly revised figures for the year. That was 21,600 more jobs than the initial estimate of a gain of 91,400 job in 2012, according to this newspaper’s analysis of the EDD figures. Every March, the EDD releases annual revisions to its original estimates about the job market in California and its urban centers.

“The Bay Area is the leader for the California job market,” said Steve Levy, director of the Palo Alto-based Center for Continuing Study of the California Economy.

Adding to the robust economic picture in the nine-county region is the improvement in the East Bay job market. The South Bay and the San Francisco metro area have been leading the recovery.

 

 Read more: San Jose Mercury News – Bay Area and California job markets are far stronger than first thought