Industry: Economy
News
Sept. 5, 2017

More than half a century since the Civil Rights Act became law, U.S. workers continue to experience different levels of success depending on their race. Analysis using microdata on earnings shows that black men and women earn persistently lower wages compared with their white counterparts and that these gaps cannot be fully explained by differences in age, education, job type, or location. Especially troubling is the growing unexplained portion of the divergence in earnings for blacks relative to whites.

News
Sept. 5, 2017

The brick-and-mortar retail swoon has been accompanied by a less headline-grabbing e-commerce boom that has created more jobs in the U.S. than traditional stores have cut. Those jobs, in turn, pay better, because its workers are so much more productive. This demonstrates something routinely overlooked in the anxiety about the job-destroying potential of robots, artificial intelligence and other forms of automation. Throughout history, automation commonly creates more, and better-paying, jobs than it destroys. The reason: Companies don’t use automation simply to produce the same thing more cheaply. Instead, they find ways to offer entirely new, improved products. As customers flock to these new offerings, companies have to hire more people.

News
Sept. 5, 2017

Merchants on Fillmore Street in San Francisco were hit by more than a dozen "grab and run" thefts in August, leaving employees at the businesses feeling unsafe and owners calling for more police presence in the area. The New Fillmore reports that the thefts have hit businesses on the street including Sandro, Curve, SpaceNK, Intermix, Scotch & Soda, Rebecca Minkoff, Mio and Eileen Fisher.

News
Sept. 4, 2017

One common refrain among housing advocates and politicians is that high-rise construction is a solution to the problem of housing affordability. The causes of the problem, however, are principally prohibitions on urban fringe development of starter homes. Critics also note that high-rises in urban neighborhoods often replace older buildings, which are generally more affordable. One big problem: High-density housing is far more expensive to build. Gerard Mildner, the academic director of the Center for Real Estate at Portland State University, notes that development of a building of more than five stories requires rents approximately two and a half times those from the development of garden apartments. Even higher construction costs are reported in the San Francisco Bay Area, where the cost of townhouse development per square foot can double that of detached houses (excluding land costs) and units in high-rise condominium buildings can cost up to seven and a half times as much.

News
Sept. 2, 2017

A state Senate bill to allow local authorities to place a 1/8-cent sales tax for Caltrain on the ballot in Santa Clara, San Francisco and San Mateo counties cleared the Assembly on Friday, pushing it close to the finish line. Senate Bill 797, by Sen. Jerry Hill, D-San Mateo, is part of an effort to raise $100 million annually for the popular train that shuttles more than 60,000 riders on weekdays up and down the Peninsula between San Francisco and San Jose.

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