Attorney Ernest Lew sits with his dog, Emma, in a Financial District plaza Friday, Oct. 18, 2019, in San Francisco. California's jobless rate has fallen to a record low 4% and in San Francisco it's dropped under 2%, a level economists once thought impossible to reach. "Why are there so many homeless people if this economy is booming? That's crazy!" said Lew, an estate planning attorney, when told about the report. Lew has practiced law for 30 years and said he is doing very well because a lot of his clients work at Google, Facebook and other tech companies. (AP Photo/Olga Rodriguez)

Corey Cantu looks out from the cookie kiosk he works at Friday, Oct. 18, 2019, in San Francisco. California's jobless rate has fallen to a record low 4% and in San Francisco it's dropped under 2%, a level economists once thought impossible to reach. In that city, the building cranes that dot the skyline are emblematic of a booming economy but the sidewalks filled with homeless and workers struggling to find affordable housing tell a different story. Cantu, who tends an artisanal cookie kiosk in downtown San Francisco, said that on top of his full-time job, he also walks dogs and does stick-and-poke tattoos and sells his paintings to make ends meet. (AP Photo/Olga Rodriguez)

People make their way through the Financial District across California Street Friday, Oct. 18, 2019, in San Francisco. California's unemployment rate fell to a new record low of 4% in September. The state Employment Development Department says Friday that employers added 21,300 nonfarm payroll jobs, extending California's record job expansion to 115 months. (AP Photo/Eric Risberg)

People make their way through the Financial District across California Street Friday, Oct. 18, 2019, in San Francisco. California's unemployment rate fell to a new record low of 4% in September. The state Employment Development Department says Friday that employers added 21,300 nonfarm payroll jobs, extending California's record job expansion to 115 months. (AP Photo/Eric Risberg)

People make their way through the Financial District along Montgomery Street Friday, Oct. 18, 2019, in San Francisco. California's unemployment rate fell to a new record low of 4% in September. The state Employment Development Department says Friday that employers added 21,300 nonfarm payroll jobs, extending California's record job expansion to 115 months. (AP Photo/Eric Risberg)