The Bay Area economy, staggered by a widening slump in the tech sector, lost thousands of jobs during March.
The Bay Area economy, staggered by a widening slump in the tech sector, lost thousands of jobs during March, a disquieting jolt that hints at a slowdown in the region’s economy.
The loss of 5,600 jobs in the Bay Area, reported Friday by a government labor agency, brings to a halt a remarkable streak of employment gains in the nine-county region that had extended 25 consecutive months. The Bay Area last lost jobs in January 2021, this news organization’s analysis of the government releases shows.
The East Bay shed 6,400 jobs in March while the San Francisco-San Mateo region — hit hard by employment cutbacks in the tech sector, lost 5,600 jobs last month, the labor agency reported. The South Bay was the main bright spot in an otherwise grim report. Santa Clara County added 2,200 jobs in March, the primary reason why the employment setbacks in the Bay Area weren’t worse.
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