New Report Shows Oakland Employment On The Upswing
OAKLAND (CBS SF) -- Data paint a picture of an improved labor market in Oakland, according to a report prepared by the city's Office of Economic and Workforce Development.
The average unemployment rate in Oakland dropped to 9.4 percent in the third quarter of 2014 compared with 11.4 percent in the third quarter of 2013, the report says.
Officials define the third quarter as the months of July, August and September and the rates reported are an average across the three months.
The number of jobs increased by 2.7 percent to 187,067 in 2014's third quarter. That's up from 182,133 in 2013's third quarter or an increase of about 5,000 jobs.
The report does not show what the new jobs pay and the unemployment rate is still above the level recorded in the 2006-2007 period when the rate was below 8 percent.
Oakland's unemployment rate was higher than 16 percent about five years ago.
Data show the workforce remained roughly constant at about 206,000 people between 2013's and 2014's third quarter.
Alameda County's unemployment rate in September 2014 was 5.7 percent. The rate in California in September 2014 was 7.3 percent and the nation's rate during the same month was 5.9 percent, according to the report.
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