Region: Bay Area
Report
The San Francisco Bay Area is in the midst of a strong recovery from the past decade’s economic downturn. However, the benefits of prosperity are not universally shared. In the Bay Area, more than 1.1 million workers — over a third of the total workforce — earn less than $18 per hour.
Report
The second reason why the Index is troubling is because our prosperity is not widely shared. It is a story the Index has been telling for many years, but in this 2014 installment the gaps and disparities are more pronounced than ever. These are the hard facts: our income gains are limited to those with ultra high-end skills. Median wages for low- and middle-skilled workers are relatively stagnant and the share of households with mid-level incomes has fallen in Silicon Valley more than in the state and nation. Disparities by race are more persistent than ever. We also saw a sharp increase in homelessness.
Report
The San Francisco Metropolitan Division (MD) continued its leading role in California’s employment recovery in the third quarter of 2013. In August, the region added over 21,000 jobs on a year-over-year basis. That 2.1% increase represented the fourth fastest growth rate in California behind San Jose, the Central Coast, and Orange County. The San Francisco MD is one of a handful of regions in the state to have exceeded their pre-recession peak employment levels.
Report
The labor market recovery in the East Bay has been relatively lackluster during recent months, although the slowdown is expected to be temporary. According to the California Employment Development Department, the East Bay’s August payroll number was 992,200, just about the average of the preceding months. On a year-over-year basis, nonfarm employment increased by 0.8%, or 7,800 jobs in total.
Report
The South Bay continues to be one of the regions driving California’s overall employment growth. For the first eight months of 2013, total nonfarm employment in the South Bay was up 3% over the same period last year. The state, on the other hand, was up 1.7%.
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