Economic Indicators are Mixed as COVID Restrictions are Eased in San Francisco

A view of City Hall San Francisco from the Civic Center Plaza. (Harika Maddala/ Bay City News)

By Keith Burbank

The latest report out Friday on the recovery of the San Francisco economy presents a mix of good and bad as COVID-19 restrictions have been eased by officials.

Overall, the city’s economic recovery has been slowed by the Delta variant, but some indicators show things improved in September, the latest data available.

Office attendance had its strongest month so far, employment has been rising, led by hiring in the hard-hit leisure and hospitality sector, and the public sector added jobs. The growth in public sector jobs was focused in the K-12 and post-secondary education markets.

Other indicators show parts of the economy worsening. The office vacancy rate continued to rise over the July to September quarter, a labor shortage is developing as employment rises and the city’s labor force shrinks, and apartment rents remain 13 percent below their pre-pandemic level.

The latest report on the city’s economic recovery can be found right here.

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