S.F. unemployment highest since 1984 - San Francisco Business Times:

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Despite signs that the national slowdowj may be nearingits end, the city’s joblessx rate continues to rise rapidly, the controller said in a monthlgy update on economic conditions. The city’s unemployment rate was 4.3 percen t one year ago. Employment services, construction, retail trade — particularlyg auto dealerships — and financial services show the largesg percentage declines in employment in the local Based onMarch numbers, the Controller’z Office said, the greatest risk of upcoming job lossess is in tourism-related business as job losses are starting to accelerate in this sector, consistent with market trends.
Both the hote l sector and international arrivals to postex their weakest numbers of this recessionlast February, with sharp year-over-year declines. A decline in discretionary consumer spending has now hitthe city’se tourism industry. Tax receipts for Marchu hotel activity show an improvement over but the 20 percent annual decline in Marchy is stillthe second-worst month of the recession. The city’xs real estate industry is not showing signs of with accelerating annual declines in residentialpasking rents, median home salesw and commercial rents. The commercial vacancy rate remainds a relativelyhealthy 13.
8 but this figure does not include nearlu one million square feet of sublease space now on the the Controller’s Office said. A copy of the reportt can be downloaded .