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The San Francisco-San Mateo region posted an unemployment rate of 3.3 percent, down from 3.4 percent. Experts believe the Bay Area’s hiring boom will have an impact beyond the nine-county region. “It appears that the job growth in the Bay Area is starting to spread to nearby regions like the San Joaquin Valley,” Michael said. San Joaquin County added 3,000 jobs in July and now has a record number of nonfarm payroll jobs, while Stanislaus County gained 700 jobs, also eclipsing its previous record employment level. “The main sectors that are driving growth in the Bay Area are going to remain strong, and the pace of economic expansion still looks good,” Kleinhenz said. “This expansion is going to last for a while.” Over the one-year period that ended in July, the Bay Area, Santa Clara County, the East Bay and the San Francisco-San Mateo region have produced stronger job markets than California and the United States. During the most recent 12 months, total jobs grew by 3 percent in the Bay Area, 3.1 percent in Santa Clara County, 2.9 percent in the East Bay and 2.8 percent in the San Francisco-San Mateo region. check out this siteIn the same one-year period, California employment grew 2.3 percent and the U.S. expanded 1.7 percent. “The growth rate may be slowing in the Bay Area, but no one can complain about 3 percent job growth,” Kleinhenz said.
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