San Francisco Unemployment Jumps to 4% in January Amid Tech Layoffs and Job Losses

San Francisco's unemployment rate rose to 4% in January, the highest level since October 2021
The city lost 15,700 jobs in January, with the hardest hit sectors being professional, scientific and technical services, hotels and food services, and retail
Numerous major tech companies like Google, Salesforce, and Cisco have had layoffs in San Francisco since January
San Francisco now has a slightly higher unemployment rate than the national average of 3.9%
Unemployment rates have risen across the Bay Area in the past year, with most counties seeing rates between 4-5%