03/28/2024

San Jose area, Oakland area job markets wobble, sparking economic uncertainty

SAN JOSE — The job markets in Santa Clara County and the East Bay slumped to start out the year, according to a state labor report released Friday that indicated some cracks have materialized in the region’s employment sector.

Santa Clara County lost 3,500 jobs while the Alameda County-Contra Costa County area lost 900 jobs in January compared to December, seasonally adjusted figures from the Employment Development Department show. The San Francisco-San Mateo region managed a gain of only a paltry 400 jobs.

Even worse, it turns out the Santa Clara County job market was somewhat weaker during 2016 than economists had initially estimated. The South Bay added 31,100 jobs — 6,000 fewer than the original calculation of a gain of 37,100 more positions.

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