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Beacon Economics provides customized five-year data forecasts for variables including:
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CONTACT: Sherif Hanna
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Summer 2018

The South Bay economy continues to set records as employment increases and the unemployment rate drops. While the high cost of housing remains an ongoing issue, home demand is still on the rise, coinciding with gains in employment and wages. However, if the region’s limited housing supply is not addressed, the expensive housing market could negatively impact the South Bay’s economic growth in the future. 

South Bay Labor Market Still Hot

Between April 2017 and April 2018, total nonfarm employment in the South Bay grew by 3.6%, reaching a total of 1.12 million jobs. With these job gains, the region’s unemployment rate dropped by 0.8 percentage points, falling to 2.6%. The South Bay continues to outperform the state as a whole in terms of both employment growth and in the unemployment rate. Between April 2017 and April 2018, California’s employment grew by 2.1% and the state’s unemployment rate dropped to 4.2%. Over this period, employment gains in the South Bay also outpaced...



 

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