East Bay Economy Sputters Forward...

Posted by Expert Gadget Reviewer on Thursday, 18 March 2010

News of the recovery may be slightly premature, at least in the San Francisco East Bay Area... Proving that this recession is nothing, if not stubborn, most economic indicators continued to go south according to the most recent January 2010 numbers released by the East Bay Economic Development Alliance.

Unemployment: East Bay unemployment increased from 11.0% in December 2009 to 11.9% for January 2010. This does remain under the California unemployment rate of 13.2%.

Labor Force: Some good news... The Labor Force (which is the number of individuals currently employed or actively seeking employment), increased by 4,900 workers, between December 2009 and January 2010, growing to 1,276,100. However, when looking at a year-over-year comparison (January 2009 to January 2010), the East Bay actually lost 20,200 workers.

Commercial Permits: Finally in an important measure for the commercial interiors segment, Commercial Permits fell 61.5% in the East Bay, and are down over 90% in the San Francisco region.

Anecdotally: we are continuing to see a small but consistent trend of small business coming into our showroom and buying. Projects are small, but immediate -- our corporate and government clients continue to follow the trends outlined above, with projects delayed or canceled.