SFCED | San Francisco Center for Economic Development

Bay Area Will Lead California’s Recovery This Year

With job growth over 3 percent, the Bay Area should “continue to lead the recovery” in California this year, according to a report from the University of the Pacific. While the Golden State’s job growth will stick at about 2 percent over the next few years — that’s marginally faster than the likely U.S. rate — the metropolitan region around Oakland and San Francisco will outstrip that. So says a report by the Stockton school’s Business Forecasting Center.

The report says, however, that Bay Area job growth will slip below 2 percent in 2014 “as the national economy fully recovers and high housing costs and other constraints to growth become more binding.”

Growth in 2014 will shift inland to Sacramento and Stockton — construction and real estate jobs will increase, and state and local governments will recover slowly.

Read more: San Francisco Business Times – Bay Area will lead California’s recovery this year