How Will the Bay Area Economy Recover from the COVID-19 Pandemic?
Find out on October 22nd by joining us for our Biennial Economic Profile Virtual Launch Event presented by Fifth Third Bank from 9:00AM to 10:30AM Register Early Here>>
In the meantime, we’ll be sharing a Sneak Peek of the Week with our readers here in the Flash and on social media. Check back every Friday in October for more buzz-worthy economic data.
SNEAK PEEK OF THE WEEK
How has Bay Area Job Recovery Compared to Past Recessions?
The COVID-19 pandemic has produced much faster job losses than previous recessions. In fact, the region is already slowly recovering, bringing back approximately 30% of its lost jobs.
6 months after the start of the Great Recession (Dec 2007 – June 2008): -0.7% net loss in total employment in the Bay Area
6 months after the start of the Dot-Com Recession (Dec 2000 – June 2001): -2.5% net loss in total employment in the Bay Area
6 months after the start of the COVID-19 Recession: -10.1% net loss in total employment in the Bay Area (Feb 2020 – Aug 2020)