Bay Area hiring surges in June, powered by big South Bay job gains

The Bay Area economy added jobs at a sturdy pace in June, raising hopes that the region’s employment picture is turning brighter after being jolted by losses back in March, a new state government report released Friday shows.

The employment gains in the Bay Area were robust enough that the nine-county region produced nearly 80% of all the jobs added in California in June, the state Employment Development Department reported Friday.

“The Bay Area economy rebounded in May and June with strong job growth,” said Steve Levy, director of the Palo Alto-based Center for Continuing Study of the California Economy. “The June job total was the highest on record for the region and Silicon Valley.”

Robust gains in the Santa Clara County region helped power the Bay Area to a gain of 9,200 jobs in June, according to the state EDD’s regular monthly employment report.

It’s also clear that the tech layoffs that have hounded the region’s economy since early 2022 have tailed off in a big way, a Beacon Economics industry-specific analysis of the EDD report shows.

Bay Area tech industry job losses have eased at a dramatic pace during the most recent three months of 2023 compared with the first three months of this year, according to the Beacon analysis.

After losing jobs in March, the Bay Area’s job market has now gained employment for three consecutive months, although the increase in June was somewhat weaker than the upswing in May, the EDD report for the overall job sector shows.

“The Bay Area is once again assuming the outsized employment role it played throughout much of the 2021 and 2022 recovery in California, as a main driver of job growth,” said Michael Bernick, an employment attorney with law firm Duane Morris and a former director of the state EDD.

.

Check Also

Nike’s CEO blames the home office for the company’s lack of innovation

Nike CEO John Donahoe said on Friday (April 12, 2024). CNBC that remote work hinders …

Leave a Reply

Your email address will not be published. Required fields are marked *