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Fall 2018

Thanks to large employment increases in logistics, goods producing, and technical industries, the East Bay’s unemployment rate is the lowest it has been in decades, suggesting that the current expansion of the region’s economy is far from over. The local commercial real estate market stands out as it remains on a strong growth path and rents are increasing. Still, while the East Bay economy is continuing on its upward trajectory, the rate of growth in the region has slowed marginally compared to one year ago.

Healthy Expansion Continues

From August 2017 to August 2018, the unemployment rate in the East Bay decreased 0.9 percentage points from 3.8% to 2.9%, with the labor market tightening further. Over the same period, total nonfarm payroll increased by 1.8% – an addition of 21,300 jobs, as the region reached a total of 1.2 million jobs. Despite these solid gains, neighboring San Francisco and the South Bay outpaced the area, growing at rates of 2.1% and 3.8%, respectively.

The slower pace of hiring in the East Bay is not attributed to...


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