San Francisco, CA Jobs Report

October 2020 Jobs Report

Jobs Added

Metro +7,600
  • Month Over Month: +0.3%
  • 3 Month Average: 7,000
  • Year Over Year: -10.6%
State +96,000
  • Month Over Month: +0.6%
  • 3 Month Average: 97,767
  • Year Over Year: -8.5%
National +638,000
  • Month Over Month: +0.5%
  • 3 Month Average: 934,333
  • Year Over Year: -6.1%

Unemployment Rate

Metro 8.6%
  • Month Over Month: -0.1%
  • 3 Month Average: 9.53%
  • Year Over Year: +6.3%
State 11.0%
  • Month Over Month: -0.2%
  • 3 Month Average: 11.9%
  • Year Over Year: +7.1%
National 6.9%
  • Month Over Month: -1.0%
  • 3 Month Average: 7.73%
  • Year Over Year: +3.3%

The unemployment rate fell rapidly to 6.9 percent, from 7.9 percent in September, adding 638,000 jobs last month, a sign the labor market continues to heal slowly as a resurgence in the coronavirus threatens future growth. This came as a positive this month as the labor force participation rate that rose 0.3 percentage points to 61.7%.

“The strength of this report is really amazing in the face of rising coronavirus cases,” said Michael Arone, chief investment strategist at State Street Global Advisors.  The U.S. economy has recovered two-thirds of the ground it lost during the first half of the year.

 

 

Sector Job Growth from the B.L.S.

Professional & Business Services -3,100
  • Month Over Month: -0.6%
  • 3 Month Average: 484
  • Year Over Year: -4.6%
Trade, Transportation, & Utilities +3,300
  • Month Over Month: +1.0%
  • 3 Month Average: 338
  • Year Over Year: -8.0%
Education & Health Services +2,500
  • Month Over Month: +0.7%
  • 3 Month Average: 337
  • Year Over Year: -6.9%

Industry Job Growth from the B.L.S.

Administrative & Support & Waste Management & Remediation Services -1,300
  • Month Over Month: -2.3%
  • 3 Month Average: 56
  • Year Over Year: -8.3%
Transportation, Warehousing, & Utilities +200
  • Month Over Month: +0.2%
  • 3 Month Average: 86
  • Year Over Year: -9.3%
Health Care & Social Assistance +1,200
  • Month Over Month: +1.1%
  • 3 Month Average: 109
  • Year Over Year: -3.0%
Employment Services +100
  • Month Over Month: +0.6%
  • 3 Month Average: 16
  • Year Over Year: -16.8%
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Metropolitan Month-Over Month Job Growth by Sector

*The following chart displays the latest local job growth by sector compared to the previous month. Note that if a sector experienced losses or flat growth, it will not be displayed as part of the graphic.

BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.

The BLS defines a sector as a subset of the domestic economy and excludes the economic activities of the following: general government, private households, and nonprofit organizations serving individuals. A sector consists of multiple industries.

The BLS defines an industry as a group of establishments that produce similar products or provide similar services. Multiple industries makeup sectors.

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