Economic indicators mixed as COVID-19 restrictions eased in The City

The latest report on the recovery of San Francisco’s economy presents a mix of good and bad as officials have...

The latest report on the recovery of San Francisco’s economy presents a mix of good and bad as officials have eased COVID-19 restrictions.

Overall, The City’s economic recovery has been slowed by the delta variant, but some indicators show improvements in September, according to the latest data available.

Office attendance had its strongest month so far and employment has been on the rise, led by hiring in the hard-hit leisure and hospitality sector. Also, the public sector added jobs. Growth in public sector jobs was focused in the K-12 and post-secondary education markets.

Other indicators show parts of the economy worsening. The office vacancy rate continued to rise over the July to September quarter; a labor shortage is developing as employment rises and The City’s work force shrinks; and apartment rents remain 13% below their pre-pandemic level.

For more about the report, visit https://openbook.sfgov.org/webreports/details3.aspx?id=3021.

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