Unemployment & Construction Permits... Still looking for good news

Posted by Expert Gadget Reviewer on Friday, 18 December 2009

No doom and gloom - just the facts... Here are the latest unemployment numbers and construction permit numbers for the East Bay area of Northern California:

UNEMPLOYMENT NUMBERS: East Bay unemployment was 11.5% for both Alameda and Contra Costa Counties for October of 2009, up from a revised 11.3% in September of 2009. This rate is under the overall state unemployment rate of 12.3%, but above San Francisco's rate of 9.3% and above the national rate of 9.5% for the same period.

COMMERCIAL CONSTRUCTION PERMITS: The value of commercial construction permits issued in the East Bay fell 63.8% when compared to the previous time period. Commercial permits fell throughout the region, most steeply in San Francisco, falling 86.5%.

What does all this mean... Remember these are trailing numbers, however based on everything we are seeing, and all my "informants"... we can expect more of the same at least through the 1st quarter of 2010. Not a whole lot cooking right now...

All information provided by the East Bay Economic Development Alliance.