Thinking more strategically about the Bay Area economy
The Bay Area is constantly evolving. We've gone from the Gold Rush to Silicon Valley; shifted from boom to bust, and back again. It can feel a little bit like déjà vu. Back in 2000, just before the dot-com bubble burst, unemployment in San Francisco was at an all-time low of 3 percent. It’s nearing that again – approaching what economists call "full employment," meaning, statistically anyway, there are jobs for everyone who wants one.
But what story do these numbers really tell? Where is the job growth, and who is benefiting? A recent study shows that the gap between rich and poor is growing faster in San Francisco than in any other city in the country. To answer some of these questions, KALW’s Ben Trefny sat down with Tracey Grose from the Bay Area Council Economic Institute.
TRACEY GROSE: "When our demands come to a peak like this and movement becomes so difficult--for sure, these issues become top of mind for decision makers. The problem is that these projects take a lot of time to develop and, you know, get through all the CEQA and all of the other regulatory requirements and everything. Its like we're always playing catch-up."
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