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Industrial jobs grow as unemployment hits a new low

• In May 2018, the Oakland-Hayward-Berkeley Metropolitan Division’s unemployment rate hit a 20-year low of 2.7 percent. This rate marks the tenth straight month of declining unemployment, and beats the previous low of 3.3 percent in 1999. The East Bay is below the state average, which is at 4.3 percent.

• Although total employment in manufacturing and trade, transportation, and utilities is down from 2000-2001 levels, both industries have recovered significantly with 45,000 jobs created since peak unemployment in 2010.

• A total of 5,400 jobs were created between April 2018 and May 2018. Although 300 jobs were lost in manufacturing during this time period, employment in the industry is up 3.3 percent from last year. A total of 1,000 jobs were created in trade, transportation, and utilities, which is an increase of 1.8 percent from May 2017.

• Job growth in these industries could translate into increasing demand for industrial spaces as businesses look to expand their production and facilities.

Source: JLL Research, CA EDD

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