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Bay Area jobs report: Latest numbers show signs of slowdown

There’s been a slowdown in job growth in the Bay Area, but it’s not all bad news. 

At Good Life Grocery in San Francisco’s Potrero Hill, they’re still hiring. 

“People are still applying here,” said Brigitte Briseno, supervisor at Good Life Grocery.

Even with a recent run of cuts in the tech and auto sectors, America added 150,000 jobs last month.

“When you’re an economy based on innovation, venture capital, startups, there’s always going to be ups and downs,” said Russell Hancock, CEO of Joint Venture Silicon Valley.

The biggest job growth is coming in areas like construction, retail, stores and restaurants.

Both of which say having techies back in the office helps.

“This really does show signs of recovery, I believe that it continues to be tech-led, because we’re a strong tech economy, and there’s more to come,” said Hancock.

Worth noting that an even slightly slowing economy could be good news in the not too distant future.

For example, if the federal reserve decides to no longer raise interest rates, and maybe even decide to cut those rates sometime next year, that would mean the rate you pay on your credit card debt would drop, along with mortgage rates.

Scott Budman has more in the video above.

Source: NBC Bay Area

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