San Francisco retained its place among the 10 best-performing markets nationwide, according to a newly issued report from the nonpartisan economic think tank, Milken Institute.
The high rate of growth experienced by the Bay Area economies so many years into their expansion remains impressive – allowing San Francisco-Redwood City-South San Francisco, CA, to hold firm at No. 4. A major contributor to this continuing prominence on the index was the rapid wage gains: the fastest in the nation between 2010 and 2015. The report noted that the vigorous pace of high-tech growth in San Francisco is more than 60 percent higher than the national average.
The Milken Institute also identified pressure points for the region: Recent economic figures suggest that the region’s economy is slowing down, reflected in the low ranking on our short-term job growth indicator. However, the economy remains on solid.
Unlike a lot of other reports, the Milken Institute does not consider any measures of cost of living and quality of life, such as housing costs, commute times or crime rates. “These measures, although important, are prone to wide variations and can be highly subjective,” the report notes.
Read More: The Milken Institute, Best Performing City: where America’s jobs are created and sustained – 2017