City and County of San Francisco Office of the Controller – Office of Economic Analysis Status of San Francisco’s Recovery: Autumn 2010 Ted Egan, Chief Economist Office of Economic Analysis October, 2010
Mar 22, 2016
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Status of San Francisco’s Recovery: Autumn 2010
Ted Egan, Chief Economist Office of Economic Analysis
October, 2010
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Ana
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s National GDP Has Seen Four Quarters of Growth, but Growth is Slowing
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Ana
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s National Employment Was Showing a Perfect “V”...But Now Flat for 3 Months
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Ana
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s Local and State Job Recoveries Have Stopped: July the Worst Month Yet Locally
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s Where Are We Headed?
• Despite the depth of the recession, it has followed a fairly typical pattern: – Sharp drop in output and employment – Leveling-off and then growth in output – Leveling off but no growth yet in jobs.
• But this recession/crisis continues to feature unusual linkage between regulation and economic output.
• When the Federal government and Federal Reserve have tried to normalize policies in recent months, the recovery has weakened.
• Are we headed for a double-dip...or is it just one big dip? • Positive Signs: Investment Spending • Worrying Signs: Housing
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Ana
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s Although Unemployment is at Historic Highs, San Francisco Escaped the Worst
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Ana
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s Up in a Down Market: Growth in IT, Green, Biotech, and Others
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Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages
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Ana
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s Bay Area Venture Capital Has Returned to Pre-Recession Levels
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Source: PriceWaterhouseCoopers, National Venture Capital Association
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Ana
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s Green Tech, Software, and Biotech Drive the Vast Majority of VC Investment Today
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Ana
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s Projections: Private Non-Farm Employment
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Ana
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s Projections: Median Housing Price
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Ana
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s Projections: Housing Permits
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