Bay Area, California both lose jobs in February as hiring surge halts
Published in Business News
— The East Bay shed 2,400 jobs last month.
— The San Francisco-San Mateo region lost 1,000 jobs in February.
All of the numbers were adjusted for seasonal variations.
In a distressing turn of events, the new EDD report revealed that the job gains officials reported for January were far weaker than first thought.
Rather than gaining 13,600 jobs in January as initially estimated, the Bay Area added only 1,900 positions.
Similarly, California originally was thought to have added a robust 58,100 jobs in January. It turns out the state’s job gains in January were 25,600 positions — less than half the initial EDD estimate.
Here are the jobs gained or lost for some crucial Bay Area industries in February, according to seasonally adjusted estimates that Beacon Economics derived from the official EDD reports:
— Tech companies chopped a net total of 3,200 jobs in February.
— Construction companies slashed 4,500 jobs last month.
— Hotels and restaurants gained 2,200 jobs.
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