East Bay Economic Update

Posted by Expert Gadget Reviewer on Monday, 21 June 2010

Latest East Bay economic data is in from the East Bay Economic Development Alliance.

East Bay unemployment declined in April (latest complete figures) to 11.4% from 11.9%. California unemployment for the same time period was 12.3%, and the National unemployment rate was 9.5%.

East Bay Commercial building is still taking a pounding, down nearly 60.4% versus the same evaluation period last year. Permits fell most sharply in the Napa region (down 93.2%).

Leaving on some positive news, I was in a networking meeting last week, and a prominent east bay commercial banker remarked that he was aware of a development company beginning new home construction. This was the first real new home construction start that anyone in our group was aware of, and hopefully a sign of good things to come for this area.