Chris Thornberg, founding partner of Beacon Economics, said businesses will eventually follow, as many people with jobs in San Francisco and Silicon Valley have already moved to the East Bay.
San Francisco’s unemployment rate is at its lowest level in six years, but for those in the restaurant industry, the booming economy is making it hard for some small businesses to fill job openings.
According to a new Bay Area Council poll, almost 60 percent of Bay Area residents believe the region is headed in the right direction.
Researchers say California’s drought could cost the state’s agricultural economy $1.7 billion this year and leave more than 14,000 farmworkers without work.
California’s unemployment rate has dipped below 8 percent for the first time in nearly six years, a sign that the state’s economy has rebounded from the depths of the recession.
The middle class is being pushed out of the San Francisco metro area’s housing market.
California Gov. Jerry Brown unveiled his revised state budget on Tuesday, which is $1 billion more than the original he submitted in January. The majority of the funds would go to health-care costs for the poor.
Toyota’s announcement this week that it’s moving 3,000 sales and finance jobs from Southern California to Texas leaves the Torrance headquarters behind in the dust.
According to a new report, rent across the Bay Area has reached record highs. The region has averaged nearly double-digit rises annually for the last three years.
Stephen Levy, Director of the Center for Continuing Study of the California Economy in Palo Alto, said the skyrocketing prices are having wide-ranging effects on the economy.