Data are updated quarterly.
的数据流 2023年8月22日.
下一个更新: 2023年11月1日.
The Bay Area Council 经济 Institute and CBRE’s Tech 欧冠下注体育平台 Center are partnering on a three-year, three-part series of interactive reports to evaluate and track key indicators of economic recovery in the Bay Area. The first part of this analysis, published below, tracks 工作, 人, 投资, 经济活动, 可购性 通过测量: 1) an economic index tracking recovery across the nation’s 25 largest economic regions; and 2) a deeper dive into our region’s economic recovery.
探索项目
重要发现
- Our regional economic recovery index ranks the San Francisco MSA 24th out of 25 peer regions, holding down its rank for the third quarter in a row. Austin ranks 1st, San Jose ranks 19th. Index metrics include job and labor force growth, 房地产活动, 人口增长, changes to 经济活动 and 可购性. (向下滚动查看分数 & 方法)
- The region fully recovered its pre-pandemic 工作 in January 2023, but still lags behind the state and nation. Most of the region’s lag can be attributed to blows to the service and hospitality sectors that have yet to fully recover, slower growth in “knowledge industries” e.g.科技，R&D、法律等。.
- The region saw a nearly five-fold increase in residents working from home from 2019 to 2021. But because office and tech work drives much of the Bay Area economy, our region is more susceptible to longer-lasting effects of remote work than its peers.
- The San Francisco and San Jose metro areas collectively lost 204,000 人 during the pandemic, as 人 left for cheaper parts of the state, or more affordable states entirely (like Texas, 华盛顿, 和俄勒冈州).
- In terms of office vacancy, San Francisco saw the largest increase within the region, experiencing a 25 percentage point increase from 4% vacancy in Q1 2020 to 29.到2023年第一季度为4%.
- Not accounting for fewer in-migrants, out of state moves were greater in 2021 than in 2019 — but not nearly as high as they were after the Great Recession. Top destinations for those who moved away from the region are largely still in California, though shares to out of state destinations have increased.
- The City of San Francisco collected $36 million fewer dollars (or -11%) in sales tax revenue in 2022 versus 2019, taking the hardest hit of any large West Coast city. Hotel revenues and air travel also continue to trail competing tourism destinations.
- The Bay Area continues to remain the epicenter of venture capital funding, bringing in over twice as many dollars per capita as Boston, the next 最高 funded region.
- 截至2023年3月, 32% of employers in the region say they’ve already reduced or consolidated their office space, another 23% say they plan to reduce or consolidate their office space in the region over the next few years.
For questions about this project, please contact 艾比Raisz, Senior Research Manager at the Bay Area Council 经济 Institute at araisz@bayareacouncil.org.
区域经济 复苏指数
我们地区的情况如何 与同行地区相比?
Explore our regional economic recovery index for the 25 largest economic regions in the nation (based on regional GDP). The San Francisco-Oakland-Berkeley metro includes San Francisco, 阿拉米达, 马林, 柯斯, 和圣马特奥县. The San Jose-Sunnyvale-Santa Clara metro includes Santa Clara and San Benito counties.
Regions are scored on 15 different metrics across 5 different categories: 工作, 人, 投资, 经济 活动, 可购性. 满分100分. A score of 100 indicates that a region ranked first on every metric, while a score of 0 indicates that a region ranked last on every metric.
For example, Austin scored 100 in the 人 category, meaning it had the 最高 rate of both 人口增长 and labor force growth, the two metrics in that category. San Jose, San Francisco, Los Angeles all scored the 最低 because they experienced the greatest population and labor force losses given their pre-pandemic levels.
The index was first developed in January 2023, with most data reflecting Q4 2022. The index was then updated in May 2023, with most data reflecting Q1 2023. The newest update reflects Q1 2023. Changes in regional ranks and scores are shown below.
Regions are scored on 15 different metrics across 5 different categories: 工作, 人, 投资, 经济 活动, 可购性. 满分100分. A score of 100 indicates that a region ranked first on every metric, while a score of 0 indicates that a region ranked last on every metric.
For example, Austin scored 100 in the 人 category, meaning it had the 最高 rate of both 人口增长 and labor force growth, the two metrics in that category. San Jose, San Francisco, Los Angeles all scored the 最低 because they experienced the greatest population and labor force losses given their pre-pandemic levels.
The index was first developed in January 2023, with most data reflecting Q4 2022. The index was then updated in May 2023, with most data reflecting Q1 2023. The newest update reflects Q1 2023. Changes in regional ranks and scores are shown below.
经济 recovery scores as of July 2023:
湾区深潜
What’s driving the region’s recovery?
This ongoing research is generously supported by CBRE.
