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CONTACT: Sherif Hanna
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Home Prices Climb, Sales Restricted By Low Inventory

Summer 2017

California’s job growth has continued but slowed.  In May 2017, for the second month in a row, the state’s year-over-year job gains have trailed the nation overall.  What is contributing to the slowdown in job growth? The overall economy continues to advance but the state is effectively at full employment with little slack in the labor market. Moreover, it appears that there are not enough qualified candidates to fill job openings in some industries. Meanwhile, as rents and home prices head north, California’s lower wage workers simply cannot afford to live here, adding more strain to an already tight labor market.

In the East Bay, however, job growth has been strong, outpacing San Francisco and San Jose in key sectors such as Technology. As of May 2017, East Bay tech employment grew by...



 

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