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Spring 2018

The South Bay economy has demonstrated healthy vital signs so far in 2018, continuing its upward trend in employment growth and seeing its unemployment rate continue to fall. An ongoing concern, however, has been the local housing market, where average home prices far surpass the statewide average. If more is not done to increase home supply, the region’s prohibitively expensive housing market will be a potential drag on future economic growth. 

South Bay Labor Market Remains Red Hot

Between February 2017 and February 2018, total nonfarm employment in the South Bay grew by 2.9%, reaching 1.11 million jobs. This was a higher rate of growth than in the neighboring East Bay or in San Francisco, where growth was 2.2% and 1.8%, respectively. The South Bay also outperformed the state as a whole where employment growth averaged 2.3% during this time.

The fastest growing industries in the South Bay were...


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