San Francisco lost thousands of jobs since the holiday season, a new report from the City of San Francisco revealed. San Francisco lost 21,000 jobs between December and February, and the unemployment rate edged up to 3.8% as a result. The state of California faces the highest unemployment rate in the nation at 5.3%. The city says most of the jobs losses were seasonal jobs that only exist during the holiday season.
In comparison, other large metros including San Diego and Los Angeles saw growth between January and February 2024. New York City and Seattle have seen dips in hotel revenue, but no other metro faced one as large as San Francisco. Air travel in and out of San Francisco has stayed rather steady since February of 2023; it currently sits at 82% of 2019 levels. International travel is now above 2019 levels, the report says.
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