Los Angeles bucked the trend with jobs up and home prices down, while San Jose and San Francisco both saw unemployment climb and gas push past $6.40.
Every city on this list is paying more at the pump than last month. Gas in San Francisco hit $6.60 a gallon per AAA, up from $6.40. Sacramento, San Jose, Fresno, Stockton, they're all over $6.29 now. Statewide, AAA's got it at $6.40, up 2.7%. That's not a blip, that's every driver in the state eating a bigger bill.
Jobs are the real story this week, and it's mixed. San Jose's unemployment rate jumped to 4.3% from 4.1%, per BLS, the biggest move anywhere in the state. San Francisco and San Diego followed close behind, both up, both in cities where rent already eats most of a paycheck. Oxnard and Sacramento saw the same climb. If you're job hunting in the Bay Area right now, the numbers are telling you to expect more competition, not less.
Los Angeles is the exception. Unemployment there actually fell to 4.8% from 5.0%, and listing prices dropped 4.3% to $1,050,000, per realtor.com, the sharpest price drop on this whole tape. That's a city where buyers might finally get a little leverage, even with gas now over $6.44 a gallon.
Rent's mostly holding steady. San Francisco's the outlier there too, up 3.3% to $4,682 per Zillow, the priciest rent on the list by a wide margin. Fresno and Bakersfield still have the state's highest unemployment, 7.8% and 8.4%, even though both ticked in opposite directions this month. Cheap rent in the Central Valley still comes with the hardest job market in the state.
- San Francisco's gas price rose 3.1% to $6.60 a gallon, per AAA.
- California's statewide gas price rose 2.7% to $6.40 a gallon, per AAA.
- San Jose's unemployment rate rose to 4.3% from 4.1%, up 0.2 points, per BLS.
- San Francisco's unemployment rate rose to 4.6% from 4.4%, up 0.2 points, per BLS.
- San Diego's unemployment rate rose to 4.9% from 4.7%, up 0.2 points, per BLS.
- Oxnard's unemployment rate rose to 5.0% from 4.8%, up 0.2 points, per BLS.
- Sacramento's unemployment rate rose to 5.2% from 5.0%, up 0.2 points, per BLS.
- Los Angeles's unemployment rate fell to 4.8% from 5.0%, down 0.2 points, per BLS.
- Los Angeles's median listing price fell 4.3% to $1,050,000, per realtor.com.
- San Francisco's median listing price fell 3.9% to $911,375, per realtor.com.
- San Francisco's median rent rose 3.3% to $4,682, per Zillow's rent index.
- Fresno's unemployment rate sits at 7.8%, per BLS.
- Bakersfield's unemployment rate fell to 8.4% from 8.6%, down 0.2 points, per BLS.
