City's economy stays stagnant, says report

San Francisco’s overall economy isn’t getting better, but it’s not getting worse.

The overall jobless rate has remained the same this time last year at an unfortunate 9.7 percent, according to a new economic report issued by The City.

In addition, the housing price recovery has been inconsistent, showing some signs of improvement for a few months, followed by average prices retreating in August, with a reported average price virtually unchanged from year-end 2009.

In contrast to housing sales, apartment market conditions have improved steadily this year, with average rental rates increasing 16 percent since the start of 2010. However, average rents are still 12 percent below their peak in September 2008.

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