By Steve Levy
Completely happy and I hope a greater New Yr,
Beneath is the hyperlink to my December Bay Space financial replace
• The previous 4 weeks have introduced discouraging financial information for the near-term on account of the virus unfold and ensuing restrictions on exercise within the Bay Space. On the identical time, information of vaccine approval and distribution, a potential stimulus bundle and the Biden deal with immigration, infrastructure and job development level to a greater outlook by mid-year 2021. The standard caveats about housing provide and affordability and sustaining a aggressive financial atmosphere stay.
• The Bay Space recorded added 17,300 jobs in November down from 32,900 in October. The exercise restrictions ought to restrict job development whereas they final.
• Between April and November, the Bay Space recovered 42.5% of the roles misplaced between February and April trailing the state and nation.
• The regional unemployment fee was 2.7% in February, 13.1% in April and 5.9% in November. Nonetheless, 79,000 residents left the workforce in November although these numbers fluctuate month to month.
• This replace additionally seems to be at simply launched inhabitants estimates exhibiting very small development in 2020 as out migration surged.
I hope that as we pursue the Fairness and Surroundings objectives of the Three E triple backside line that we additionally deal with the third E the economic system.
Profitable fairness and environmental initiatives normally go extra easily and with larger help and $$ when the economic system is powerful.
In 2021 for me the triple backside line initiatives are round housing (an fairness, environmental and financial necessity) and a wanted dialogue in regards to the foundations for financial competitiveness.
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