SNAPSHOT

BAY AREA UNEMPLOYMENT, WORKFORCE AND EMPLOYED RESIDENTS

EAST BAY EMPLOYMENT BY SECTOR

HOUSING

CONSTRUCTION PERMITS

The Cities of

Alameda
Antioch
Albany
Berkeley
Brentwood
Dublin
Emeryville
Fremont
Hayward
Livermore
Newark
Oakland
Oakley
Piedmont
Pittsburg
Pleasant Hill
Pleasanton
Richmond
San Leandro
San Ramon
Alameda County
Contra Costa County

This forecast was prepared by:

Stephanie Brown
Economic Development Analyst
(510) 272-6843
Stephanie@eastbayeda.org

East Bay EDA
1221 Oak St., Ste. 555
Oakland. CA 94612
(510) 272-3885

Serving the East Bay
- the Bright Side of the
San Francisco Bay

For more information on
the East Bay, visit www.eastbayeda.org

Archived Newsletters & Forecasts

East Bay Reports & Studies

AUGUST 2007 EDITION

The East Bay Monthly Analysis is prepared by East Bay Economic Development Alliance staff to augment the East Bay Quarterly Forecast authored by economists at the UCLA Anderson Forecast.

East Bay EDA encourages you to forward this report to anyone interested and welcomes your comments and suggestions.

For a more printable version of this newsletter, click here

SNAPSHOT

THE EAST BAY IN AUGUST 2007

· The East Bay continued to see year-over-year growth with an increase of 17,400 in labor force.

 · The East Bay’s manufacturing sector continued to show year-over-year gains.

 · Payroll employment decreased by 10,000 jobs, mainly due to seasonal losses in the education sector and atypical June to July losses in construction and related finance.

 · The number of East Bay homes sold continued to decline, while median home sale prices showed a modest increase in a year-over-year comparison.

· The number of East Bay single-family home permits decreased dramatically, but multi-family permits continued to show year-over-year increases.

BAY AREA WORKFORCE, UNEMPLOYMENT AND
EMPLOYED RESIDENTS

The unemployment rate in the Oakland-Fremont-Hayward MD was 5.0 percent in July 2007, up from 4.7 percent in June 2007, and above the year-ago estimate of 4.8 percent. This compares with an unadjusted unemployment rate of 5.5 percent for California and 4.9 percent for the nation during the same period. The unemployment rate was 5.0 percent in Alameda County and 4.9 percent in Contra Costa County, according to the California Employment Development Department.

Unemployment rates in the Bay Area’s other metropolitan areas ticked up slightly from June to July 2007, with an increase from 4.1 to 4.3 percent in San Jose, and from 4.8 to 5.0 in San Francisco.  These numbers are slightly higher when compared with July 2006, and marked the first time any of the Bay Area regions saw unemployment rates of 5.0 percent or above since February 2006.
Continue reading Bay Area Workforce

EAST BAY PAYROLL EMPLOYMENT BY SECTOR

According to the California Employment Development Department, between June 2007 and July 2007, the total number of jobs fell by 10,000 jobs to reach 1,056,800.  

• Public and private school closures for the summer caused a reduction of 8,600 jobs combined.

• Construction fell by 1,400 jobs, which is atypical to the usual job gains based on historical month-over activity for the past 17 years.

• Financial activities declined by 900 jobs, primarily in finance (down 400 jobs) and real estate (down 300 jobs).

• Professional and business services lost 700 jobs, while leisure and hospitality posted an increase of 500 jobs.

Continue reading East Bay Payroll Employment

HOUSING

In July, Bay Area homes continued to sell at their slowest pace since 1995. With the exception of Solano and Sonoma counties, median prices remain stable at near-record highs, according to DataQuick Information Systems.

Contra Costa

A total of 7,423 new and resale houses and condos were sold in the nine-county Bay Area in July. That was down 6.8 percent from 7,964 in June, and down 12.4 percent from 8,476 for July a year ago. In the East Bay the number of homes sold showed an annual percent decrease of 5.3 percent in Alameda County and a decrease of 24.0 percent in Contra Costa County.

Continue reading Housing

CONSTRUCTION PERMITS

In July 2007, the dollar value of residential permits issued in the East Bay showed a slight increase of over $6 million.  During the same period, the San Francisco and Vallejo-Fairfield regions saw decreases of $105 million and $511 thousand, respectively. The San Jose and Napa regions saw decreases of $6 million and $9 million, respectively. 

East Bay non-residential permit values decreased $29 million between June and July 2007. During the same period, the San Francisco and Vallejo-Fairfield regions saw decreases of $26 million and $481,000, respectively between April and May 2007, while the San Jose and Napa regions saw increases of $26 and $12 million, respectively.
 

Continue reading Construction Permits

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