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Fall 2018

The San Francisco economy continues to shine with the lowest unemployment rate in the state. The region is also atop national rankings in its commercial real estate market with commercial vacancy rates among the lowest and the cost of rent among the highest in the United States.

SF Employment Continues Its Rise

From August 2017 to August 2018, the unemployment rate in the San Francisco Metropolitan Division (MD) decreased 0.7 percentage points, falling from 2.9% to 2.2%. Over the same period, total employment in the region increased to 1.1 million, growing by 23,200 nonfarm jobs or 2.1%. San Francisco (MD) outpaced the neighboring East Bay, where annual job growth was 1.8%, but fell short of the South Bay, where employment grew at a rate of 3.8% annually.

The Administrative Support sector experienced the...


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