Economic Research Shows Bay Area Employment Expected To Expand Even More
(CBS SF) -- Non-farm employment is expected to grow through the end of the year in most regions of the Bay Area, according to a forecast released Wednesday by Beacon Economics, an economic research firm based in Los Angeles.
Employment in San Francisco and San Mateo counties is expected to grow by about 3.5 percent while in the East Bay employment is forecast to rise by about 1.5 percent. In the South Bay, covering Santa Clara and San Benito counties, job growth is forecast to be about 2.5 percent.
The forecasts come following 12 months of growth in each region, the economics forecasters said. For the 12 months ending in August, total non-farm jobs in the San Francisco area grew by 3.4 percent to almost 1.2 million.
That surpasses growth in the state of 1.8 percent. Job growth in the East Bay over the same period came in at 1.9 percent, reaching 1.2 million. In the South Bay, employment expanded by 2.9 percent to 1.16 million jobs.
Unemployment in each region is expected to be around 3 percent or even lower through the end of the year. In San Francisco, the unemployment rate dropped again to its historic low of 2.1 percent.
Information for the North Bay wasn't provided.
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