The pace of job growth slowed sharply in the Bay Area and California in February.
San Jose skyline, seen in 2021.
The pace of job growth slowed sharply in the Bay Area and California in February, government officials disclosed Friday in a disquieting report that arrives on the heels of several months of widening tech and biotech layoffs. The Bay Area added 6,500 jobs in February, but those gains represented a drastic slowdown from the increase of 19,000 jobs in January, a report posted on the U.S. Bureau of Labor Statistics website shows.
California, in a similar pattern, gained 32,300 jobs in February, but that was far fewer than the 67,600 jobs added statewide in January, according to the federal labor agency’s report. All of the numbers statewide and in the Bay Area were adjusted for seasonal volatility. The statewide unemployment rate worsened in February to 4.3%, up from 4.2% in January. The California unemployment rate has now increased for two consecutive months. The state achieved a record-low jobless rate of 3.8% last July and August.
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