The unemployment rate in San Francisco dropped significantly between the months of August and September, from 6.7 to 4.2 percent. As schools throughout the city re-open their doors, many of those without employment for the summer season are able to return to work. Although the lower jobless rate shows some month-to-month improvement, the statistics aren’t as positive as those of previous years.
Last September only 3.7 percent of the city’s population were without work. This year’s unemployment increase can, for the most part, be blamed on the current housing situation. With real estate sales experiencing a slump, both the construction and mortgage industries have been unable to offer as many San Francisco jobs as they have in previous years.