Mayor Edwin M. Lee issued the following statement on San Francisco’s unemployment rate dropping to 7.4 percent in April, the lowest unemployment rate since December 2008, based on preliminary unemployment numbers released today by the State Employment Development Department (EDD):
“Job creation remains my highest priority, and will remain so to continue our City’s economic recovery. As today’s unemployment report demonstrates, we are making significant progress putting people back to work in neighborhood small businesses, tech and innovation companies and active construction sites.
With the unemployment rate at 7.4 percent, the third lowest in the State and the lowest since December 2008, San Francisco is moving in the right direction, but our efforts to get people back to work will continue.
Already, this summer through Summer Jobs +, we are putting 5,000 youth to work and I am working hard to make sure all San Franciscans have access to good paying jobs as we keep our economy growing.”
Since January 2011, the unemployment rate has dropped steadily from 9.6 percent to 7.4 percent in April, reflecting the creation of approximately 22,500 net-new jobs in San Francisco over the last year, reported by the U.S. Bureau of Labor Statistics jobs and wage data for U.S. Counties. This report also found that jobs located in San Francisco County increased by 4.1 percent from September 2010 to September 2011 ranking San Francisco 10th in performance of the 323 largest counties in the nation.