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Bay Area hammered by loss of 4,700 jobs Lack of affordable housing strangles hir
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Date: October 23rd, 2017 1:42 PM Author: Exhilarant gaming laptop bawdyhouse Bay Area hammered by loss of 4,700 jobs Lack of affordable housing strangles hiring efforts By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: October 20, 2017 at 11:05 am | UPDATED: October 23, 2017 at 10:02 am For the second straight month, the Bay Area lost thousands of jobs in September, making it the worst month for employment locally since February 2010.
The setback for the local economy comes as the crucial holiday shopping and hiring season draws near, and contrasts with a strong hiring picture statewide.
The Bay Area’s job losses stem from two distinct phenomena: Some employers are slashing positions, and others are unable to hire. Some economists attribute this second problem to structural barriers posed by skyrocketing housing costs. The lack of affordable places for workers to live appears to have hobbled the region’s ability to fill jobs as briskly as in prior years.
“Housing is the chain on the dog that is chasing a squirrel,” said Christopher Thornberg, principal economist and founding partner with Beacon Economics. “Once that chain runs out, it yanks the dog back.”
Get top headlines in your inbox every afternoon. Get the free PM Report newsletter. Sign Up Overall, the Bay Area lost 4,700 jobs last month. While some smaller metropolitan areas in the region had job gains, employers shed 1,300 jobs in Santa Clara County, 1,700 in the San Francisco-San Mateo region and 2,600 in the East Bay, seasonally adjusted figures from the state’s Employment Development Department show.
The September losses, combined with 2,400 job losses reported by the EDD for August, paint an unsettling picture and lend credence to the assessment from a growing number of experts that the Bay Area’s job growth has begun to slow dramatically.
“The slowdown is real,” said Stephen Levy, director of the Palo Alto-based Center for Continuing Study of the California Economy. “There were times this year we thought that job losses here and there were just temporary. But the slowdown is a fact. It’s happening.”
The lack of housing also makes it tough for employees to live near their workplaces, forcing many into lengthy commutes on roads choked with traffic. Some prospective employees decide they’d rather not bother.
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San Jose’s Bank of Italy building eyed by investor Google, San Jose talks over proposed transit village progress amid protests Bay Area cities join together in bid for Amazon headquarters Google eyes key downtown San Jose parcel for Diridon Station village What is downtown San Jose’s potential upside? “The economy in the Bay Area has pushed up against the physical limits of a lack of housing and a lack of places for workers to live,” said Jeffrey Michael, director of the Stockton-based Center for Business and Policy Research at University of the Pacific.
Among smaller Bay Area urban centers, Marin County lost 200 jobs in September, while Solano County added 600 jobs, Napa County gained 300 positions and Sonoma County added 200, the EDD reported.
The EDD on Friday revised downward the number of Bay Area job losses that occurred in August from 4,700 to 2,400, but said the losses accelerated in September.
Stay up to date on breaking news with our mobile app from the Apple app store or the Google Play store. The jobs picture for the technology sector also looked weak last month. Tech companies shed 100 jobs in Santa Clara County and 900 in the San Francisco-San Mateo area, although the East Bay eked out a gain of 500 tech jobs, a Beacon Economics analysis of EDD statistics showed.
Other areas of weakness: Santa Clara County lost 1,100 clerical and temp jobs, the East Bay lost 1,100 health care positions, and San Francisco-San Mateo lost 1,800 hotel and restaurant jobs, Beacon’s assessment revealed.
SJM-L-BAYJOBS-1021-90Over the 12 months that ended in September, the Bay Area added 50,400 jobs, a 1.3 percent increase in total payroll jobs during the one-year period.
By comparison, that’s less than half the growth of 2016. Bay Area job growth was 2.9 percent in 2016, 3.7 percent in 2015, 3.4 percent in 2014 and 3.5 percent in 2013, this news organization’s analysis of the EDD figures shows.
The Bay Area’s employment struggles contrasted sharply with statewide job trends.
California added 52,200 jobs in September, and the statewide unemployment rate remained unchanged at 5.1 percent, the EDD reported.
Despite the Bay Area’s increasingly sluggish picture, experts said Friday that the region doesn’t seem to be headed into a protracted downturn or outright contraction.
For more Bay Area housing affordability, home sales and other real estate news follow us on Flipboard. “It’s a dynamic economy in the Bay Area; it is fueled by a strong technology industry,” Michael said. “While growth has definitely gotten choppy, a consistent pattern of job losses will not emerge in the Bay Area.”
But some are finding the current job market tough. Steve Satariano, a San Jose resident and experienced worker in the information technology sector, said it appears tech employers frequently inquire about an applicant, but the interest doesn’t always lead to a job interview and almost never results in a full-time job with benefits. Now, his jobs consist of contract work and temporary projects.
“Things were a lot better in the tech industry a few years ago,” Satariano said, “and a lot of the job offers are for work in Sacramento or Los Angeles, but I don’t want to relocate. I’ve lived my whole life here in the South Bay.”
The vicious housing market has made it tough to find decent living circumstances, he said. Satariano is sharing housing with roommates.
“Growing up in Silicon Valley, I never pictured this for myself,” Satariano said. “I always thought that if I went into the tech industry, I could create a prosperous future for myself. But who wants to commute six hours a day? You should be able to afford a place to live near where you have to work.” |
Date: October 23rd, 2017 1:59 PM Author: Sooty church doctorate lol (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34509731) |
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Date: October 23rd, 2017 2:04 PM Author: soul-stirring dopamine Libs? (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34509787) |
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Date: October 23rd, 2017 2:05 PM Author: big theatre son of senegal yes, capitalism run amok is libs' fault (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34509796) |
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Date: October 23rd, 2017 3:31 PM Author: Brass mad-dog skullcap dilemma Lib housing regulations is, and if you read the article, housing is a big reason for the downturn. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34510462) |
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Date: October 23rd, 2017 3:34 PM Author: big theatre son of senegal "“The economy in the Bay Area has pushed up against the physical limits of a lack of housing and a lack of places for workers to live,” said Jeffrey Michael, director of the Stockton-based Center for Business and Policy Research at University of the Pacific. " The famous lib policy of not making enough space in the bay area. |
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Date: October 23rd, 2017 3:37 PM Author: Brass mad-dog skullcap dilemma Yes, if you weren't so ignorant, you'd know there have been reams of articles discussing how lib housing regulations have dramatically skyrocketed the cost of housing in the Bay Area, leading to the problem in the OP. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34510507) |
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Date: October 23rd, 2017 3:46 PM Author: big theatre son of senegal you are such a little bitch about EVERYTHING
Are you referring to the studies that claim that too high of a low income housing requirement will make developments unprofitable in SF? |
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Date: October 23rd, 2017 5:02 PM Author: Brass mad-dog skullcap dilemma I'm referring to what is common sense among educated professionals, but apparently foreign to you:
https://www.bizjournals.com/sanjose/news/2017/02/16/bay-area-housing-prices-crisis-regulation.html |
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Date: October 23rd, 2017 5:13 PM Author: big theatre son of senegal can you say anything without being a snarky little faggot? (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511287) |
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Date: October 23rd, 2017 5:14 PM Author: Brass mad-dog skullcap dilemma Depends on my audience. When dealing with a snarky shitlib who has the unfortunate combo of smug arrogance + abject ignorance, no. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511304) |
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Date: October 23rd, 2017 6:54 PM Author: salmon azn twinkling uncleanness lol you got him pretty good (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511995) |
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Date: October 24th, 2017 1:24 AM Author: Topaz macaca (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34514990) |
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Date: October 23rd, 2017 5:15 PM Author: Indigo university sneaky criminal you got pwned, fggt (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511319) |
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Date: October 23rd, 2017 5:16 PM Author: big theatre son of senegal I'm the only one not sucking GC cock ITT (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511336) |
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Date: October 23rd, 2017 5:45 PM Author: soul-stirring dopamine You got pwned by lawman. Deal with it. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511540) |
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Date: October 23rd, 2017 5:39 PM Author: motley hell gunner I am not a lawman8 fan. I actually despise him. But bro, STFU. For once, he is right. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511506) |
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Date: October 23rd, 2017 5:46 PM Author: soul-stirring dopamine Libs still literally don’t understand that regulations increase cost. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511556) |
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Date: October 23rd, 2017 3:54 PM Author: Hateful hairy legs LOL. all those tall glimmering high-rises in mountain view and palo alto - they just can't fit anymore in there! (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34510626) |
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Date: October 23rd, 2017 5:14 PM Author: Violet International Law Enforcement Agency Filthpig Air too thin to breathe. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511312) |
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Date: October 23rd, 2017 5:14 PM Author: Violet International Law Enforcement Agency Filthpig "The famous lib policy of not making enough space in the bay area."
There is plenty of space (vertical and horizontal) that cannot be developed more densely because of legal restrictions. |
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Date: October 23rd, 2017 5:15 PM Author: big theatre son of senegal god forbid we don't turn every last square inch of this country into a high-density urban squalor. How pro-GC of me. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511322) |
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Date: October 23rd, 2017 5:20 PM Author: Violet International Law Enforcement Agency Filthpig There's some respect to be had in being honest about the trade offs and motivations.
Just say it: "I'm willing to drive up housing prices, hurt job growth, and create long commutes because I prefer the current aesthetics and character." |
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Date: October 23rd, 2017 5:27 PM Author: Brass mad-dog skullcap dilemma The guy you are talking to is constitutionally incapable of being honest. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511422) |
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Date: October 23rd, 2017 5:40 PM Author: motley hell gunner (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511512) |
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Date: October 23rd, 2017 5:43 PM Author: startled cerebral police squad (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511530) |
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Date: October 23rd, 2017 5:47 PM Author: soul-stirring dopamine (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511568) |
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Date: October 23rd, 2017 6:57 PM Author: salmon azn twinkling uncleanness (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34512020) |
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Date: October 24th, 2017 1:26 AM Author: Dashing Library Lettuce (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34515000) |
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Date: October 24th, 2017 1:31 PM Author: Topaz macaca (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34518277) |
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Date: October 23rd, 2017 5:47 PM Author: Yapping stimulating national Ranch houses are no good if only boomers and owners of capital can afford to live in them. Burn them all down and build high rises. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511571) |
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Date: October 23rd, 2017 3:15 PM Author: bronze deranged menage old irish cottage Praying for a tech crash (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34510379) |
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Date: October 23rd, 2017 3:18 PM Author: Exhilarant gaming laptop bawdyhouse inshallah (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34510394) |
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Date: October 23rd, 2017 3:48 PM Author: Hilarious gas station cr, will buy a condo in Tahoe and Santa Cruz when it happens. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34510584) |
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Date: October 23rd, 2017 3:47 PM Author: Snowy range When are these companies gonna just build dorms (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34510577) |
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Date: October 23rd, 2017 3:49 PM Author: Hilarious gas station Facebook is doing just this. Google has been planning something similar for years but there are some burrowing owls that have messed up their plans. I think they're now looking to do it, but in SJ ~10 miles away from the Mountain View mothership. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34510598) |
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Date: October 23rd, 2017 3:56 PM Author: Rose stock car They should just do sharecropping. After 15 years of brutal coding, you could own a single dorm room to raise your family in. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34510649) |
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Date: October 23rd, 2017 5:05 PM Author: Flesh Plaza (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511211) |
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Date: October 23rd, 2017 5:16 PM Author: Violet International Law Enforcement Agency Filthpig Dress it in suitably progressive and aspirational clothes and you'll have a winner.
Walkability, efficiency, environment, neighborhood character, etc. |
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Date: October 23rd, 2017 5:49 PM Author: soul-stirring dopamine (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511579) |
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Date: October 23rd, 2017 5:24 PM Author: thriller violent ticket booth Retire with your 40 sq m apartment and azn wife. (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511396) |
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Date: October 23rd, 2017 5:24 PM Author: Exhilarant gaming laptop bawdyhouse unnngh but where do iget a million dollars (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511398) |
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Date: October 23rd, 2017 5:24 PM Author: supple godawful hall internal respiration (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511399) |
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Date: October 24th, 2017 1:27 AM Author: Topaz macaca (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34515007) |
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Date: October 23rd, 2017 5:30 PM Author: maroon crotch good. fuck them, esp if its fed dollars they want for their "affordable housing". (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511444) |
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Date: October 23rd, 2017 5:42 PM Author: motley hell gunner I don't get why fb, google, etc. aren't also looking to set up a second HQ is some reasonable place like Dallas or Atlanta? (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511520) |
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Date: October 23rd, 2017 7:06 PM Author: Bespoke Hospital Both are located in red states (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34512104) |
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Date: October 23rd, 2017 5:45 PM Author: aromatic lodge Bay Area libs: immigration for thee, but NOT for me! (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511546) |
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Date: October 23rd, 2017 5:48 PM Author: soul-stirring dopamine (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511577) |
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Date: October 23rd, 2017 6:48 PM Author: Exhilarant gaming laptop bawdyhouse (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34511949) |
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Date: October 24th, 2017 1:12 AM Author: Dashing Library Lettuce (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34514932) |
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Date: October 24th, 2017 1:28 AM Author: Topaz macaca (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34515012) |
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Date: October 24th, 2017 1:21 AM Author: Dashing Library Lettuce if there's one thing I've learned it's that political reform is impossible and even if it happens it will be too late to change whatver issue is affecting me currently. That and when comes it usually is in a format that somehow makes things worse.
So if bay area housing regulation happens it will come 10 years from now right before another recession. After the recession Silicon Valley will have imploded and the jobs will be in a completly different city and industry.
The newly loosed regs will be used to build lots of new housing for the 2027 Korean nuclear war refugees. |
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Date: October 24th, 2017 1:29 AM Author: trip buff church building guy who lives in a first world city here, sup (http://www.autoadmit.com/thread.php?thread_id=3772406&forum_id=2#34515018) |