The Bay Area’s economy continued to expand through the end of 2015. New labor market figures released today show California added 60,400 jobs in the final month of 2015, while the Bay Area added 9,500, accounting for 15.7% of California’s growth. California’s unemployment rate now stands at 5.8%.
The San Francisco Metropolitan Division closed out the year up 3.7 percent, adding 38,700 jobs since December, 2014 with an unemployment rate of 3.2 percent. Gains in the metro were led by Professional and Business Services (+18,800, 11.7%); Trade, Transportation, and Utilities (+6,100, 4.0%); and Private Educational and Health Services (+4,600, 3.5%). Other sectors that grew include Government (+2,900, 2.4%); Construction (2,700, 7.6%); and Information (2,300, 4.1%). Leisure and Hospitality contracted (-1,100, -0.8%).
The Oakland-Hayward-Berkeley Metropolitan Division closed out the year not quite as strong as San Francisco, but nevertheless up 2.0 percent, adding 21,400 jobs since December, 2014 with an unemployment rate of 4.4 percent. Construction (+6,000, 10.1%) led gains in the metro, followed by Leisure and Hospitality (+5,200, 5.0%). Other sectors seeing growth include Trade, Transportation, and Utilities (+3,800, 1.9%); Professional and Business Services (+3,400, 1.8%); Private Educational and Health Services (+2,000, 1.1%); and Manufacturing (+1,600, 1.9%).
The San Jose-Sunnyvale-Santa Clara Metropolitan Statistical Area held the top spot for growth in the region, closing out the year up 4.4 percent, adding 46,100 jobs since December, 2014. Gains in the metro were led by Professional and Business Services (+17,200, 8.0%); Private Educational and Health Services (+8,600, 5.6%) and Information (+7,200, 10.2%).