Politics & Government

Peninsula Unemployment Rate Drops Again

New jobs in the finance and information sectors, as well as trade, transportation and utilities, are being credited for the decline in the jobless rate.

Buoyed by above-average job growth in several industries, the unemployment rate in San Mateo County dipped below 5 percent in May, the lowest its been in more than two years. 

The "West Bay" region of San Mateo, San Francisco and Marin counties saw more positions added in the trade, transportation, and utilities sector; professional and business services field; financial activities field; and information sector than normal for this time of year, according to figures released by the state Employment Development Department on Friday. 

That translated to the San Mateo County jobless rate declining to 4.9 percent in May. The county's unemployment rate was 5.1 percent in April.

San Mateo's unemployment rate was better than the county average, at 3.8 percent in May.

The total number of jobs in San Mateo, Marin and San Francisco counties climbed 4,800 jobs to reach 1,023,100 jobs.

  • Leisure and hospitality gained 1,700 jobs, less than typical.
  • Trade, transportation, and utilities climbed by 1,400 jobs, much larger than its usual increase of 400 jobs at this time of year. 
  • Retail trade gained 900 jobs.
  • Professional and business services rose by 1,100 jobs, well above its 200-job average for the prior decade. Professional, scientific, and technical jobs advanced more than usual for this time of year.
  • Financial activities added 800 jobs and information 400 jobs, each more than their 100-job average gain for the prior 10 years.
  • Government saw a net decrease of 1,100 jobs, a larger-than-usual cutback related largely to public schools.
Comparing May 2013 to May 2012, there were 25,300 more jobs in the three-county area this year than last.

The San Mateo County unemployment rate is drastically lower than the state's, which declined to 8.6 percent in May. The national unemployment rate saw a slight uptick from April to May, rising to 7.6 percent.


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