California rockets to big job gains in February

The Bay Area and California powered to sturdy job gains in February, officials reported Friday, a surge that suggests the battered economies of both regions have finally begun to recuperate from their coronavirus-linked maladies.

The February gains in the nine-county Bay Area were led by big job increases in Santa Clara County, the East Bay and the San Francisco-San Mateo region, according to the state Employment Development Department report.

“Spring has sprung,” said Russell Hancock, president of Joint Venture Silicon Valley. “Our economy’s strong underpinnings never went away, despite the pandemic.”

During February, the Bay Area added 22,500 jobs, Santa Clara County added 4,800 positions, the East Bay added 6,800 jobs and the San Francisco-San Mateo region added 7,700 jobs. All the numbers were adjusted for seasonal variation.

“The Bay Area job recovery continued in February and should continue with the relaxation of COVID restrictions,” said Steve Levy, director of the Palo Altobased Center for Continuing Study of the California Economy.

For the 12 months that ended in February, job totals increased by 6.4% in the Bay Area, 6.8% in California and 4.6% in the United States.

“Our growth continues to outpace the nation, and it is being driven by tech, which continued its expansion throughout all the months of the pandemic,” Hancock said.

California added 138,100 jobs, the state’s largest gain since July 2021, the EDD reported.

“With the lockdowns associated with the pandemic looking more and more like they are behind us, hiring is picking up in the areas that were most impacted by the pandemic,” said Mark Vitner, a Wells Fargo senior economist.

The statewide unemployment rate improved to 5.4% in February, compared with 5.7% in January.