Coronavirus economy: Bay Area gains record jobs in June

The Bay Area powered to a record number of gains for a single
month during June, adding a mammoth 122,300 jobs last month, fresh
evidence that the region’s brutalized economy is battling back
from catastrophic employment losses unleashed by the coronavirus,
state labor officials reported Friday.

Santa Clara County, the San Francisco-San Mateo region, and the
East Bay all added tens of thousands of jobs in June, the best
one-month performance on record for each of those regions,
according to figures released Friday by the state’s Employment
Development Department.

California added a jaw-dropping 558,200 jobs during June, on top
of gains of 134,200 positions in May, the EDD reported Friday.

More than half of the California job gains in June were created
in the reeling leisure and hospitality industry, which includes
jobs in restaurants, hotels, drinking establishments, arts, and
entertainment.

Business lockdowns ordered by state and local government
agencies have bludgeoned the leisure and hospitality industries,
but companies in those sectors added 292,500 positions in June, the
report determined.

The California unemployment rate fell to 14.9 percent in June, a
big improvement from the 16.4 percent jobless rate in June, yet
still brutally high by historic norms.

Source: FS – All – Real Estate News 1
Coronavirus economy: Bay Area gains record jobs in
June