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