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San Francisco Economic Indicators

Introduction


The San Francisco Chamber of Commerce's Data Dashboard highlights key indicators of the City’s economy for elected officials, companies, and new industries, tracking the economic recovery and showcasing both successes and areas for improvement.

 

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The San Francisco Chamber of Commerce's Data Dashboard highlights key indicators of the City’s economy for elected officials, companies, and new industries, tracking the economic recovery and showcasing both successes and areas for improvement.

Bay Area Employment Recovery Through Recessions

% recovery from baseline

Source: JLL

(Updated 01-17-2023 10:33 pm)
Total Commercial Vacancy Rate
25.1%

Office Vacancy Rate Trend

JLL

(Updated 01-12-2023 8:25 pm)

San Francisco Office Space Activity

OfficeInventory (s.f.)Total net absorption (s.f.)Total vacancy (%)YTD Completions (s.f.)Under Development (s.f.)
SF Total
86,309,739
-653,414
25.1%
1,026,96449,958
Class A
61,439,584
-368,262
23.4%
1,026,96449,958
Class B
22,820,866
-283,942
28.9%
00
Class C
2,049,289
-1,210
35.2%
00

Source: JLL

(Updated 01-12-2023 8:23 pm)

Return of Workers to Downtown

Recovery of monthly traffic volumes compared to pre-covid

Source: BART, MTA, Kastle

(Updated 01-09-2023 5:43 pm)

Seated Diners

% change compared to 2019

Source: OpenTable

(Updated 01-05-2023 11:11 pm)
San Francisco Capital

San Francisco remains the venture capital hub of the world with the highest total funding of all North American markets.

VC Funding by Top 20 North American Markets

2022 Totals

MarketTotal
1San Francisco
$40,335,530,499
2New York
$38,664,749,931
3Los Angeles
$19,854,309,841
4Silicon Valley
$18,933,159,813
5Boston
$18,071,759,151
6Mid Peninsula
$11,923,669,164
7Chicago
$10,169,523,490
8Miami - West Palm Beach
$9,414,288,807
9East Bay
$7,306,454,303
10Seattle - Tacoma
$6,938,072,879
11Denver
$6,682,746,713
12Austin
$5,683,250,119
13Ohio
$5,389,093,250
14Dallas - Fort Worth
$5,388,483,130
15Washington DC
$4,638,589,952
16San Diego
$4,215,242,000
17Detroit
$4,040,050,430
18Portland
$3,657,415,510
19Houston
$3,094,888,800
20Atlanta
$2,923,630,142

Source: JLL

(Updated 01-10-2023 9:20 pm)

Top 20 Bay Area Companies by VC Funding

Source: JLL

(Updated 01-06-2023 6:28 pm)
Business Openings

New businesses are continuing to form across San Francisco. If you are interested in starting a small business in San Francisco, check out this guide.

New Business Formations

Source: DataSF

(Updated 01-05-2023 11:15 pm)
Consumer Price Index

The Consumer Price Index is a measure of the average change over time in the prices paid by urban consumers for consumer goods and services.

Consumer Price Index

YoY % Change

Source: Bureau of Labor Statistics

(Updated 01-05-2023 11:17 pm)
Housing and Jobs

In 1969, the state of California mandated that all local governments plan for the housing needs of their residents. San Francisco’s regional planning agency provides capacity updates every eight years, and currently San Francisco needs to build 82,000 units between 2023 and 2031, 46,000 of which need to be affordable to low- and moderate-income residents.

Jobs to Housing Ratio Comparison

Number of jobs divided by number of housing units

Source: JLL

(Updated 01-06-2023 6:33 pm)
Tourism

Tourism remains a key to San Francisco’s economy. Visitors from around the world fuel economic activity and are a key indicator of the City’s economic recovery. San Francisco International Airport Ranked #1 on Wall Street Journal’s 2022 Airport Rankings.

SFO Passenger Traffic

Plane Deplanements

Source: JLL

(Updated 01-06-2023 6:35 pm)
Hiring Demand

The San Francisco Chamber of Commerce has launched several working groups to provide feedback to City Hall on how to attract and retain new industries to San Francisco. If you are interested in joining LifeScienceSF or the Sustainability in Business working groups, contact eabraham@sfchamber.com.

Industry Characteristics

Industry2022 Jobs2021 Average Earnings Per Worker2022 LQ (Occupation Concentration)2017-2022 % Change in Jobs2021 GRP
Professional, Scientific, and Technical Services
456,860
$176,576
1.9
5.96%
95168.11M
Health Care and Social Assistance
368,334
$88,397
0.98
6.87%
38475.23M
Government
324,196
$131,021
0.84
-2.96%
48660.78M
Retail Trade
216,481
$61,797
0.73
-14.16%
24686.05M
Other Services (except Public Administration)
203,434
$42,321
1.15
-10.38%
9504.77M
Finance and Insurance
180,299
$239,099
1.03
-0.81%
74638.04M
Administrative and Support and Waste Management and Remediation Services
170,075
$74,272
0.86
-9.12%
17502.61M
Accommodation and Food Services
164,236
$84,506
0.79
-34.52%
20774.28M
Transportation and Warehousing
163,128
$81,747
1
11.3%
14720.05M
Construction
161,324
$100,338
0.9
2.23%
21062.94M
Manufacturing
157,832
$161,524
0.75
4.58%
59778.89M
Real Estate and Rental and Leasing
157,504
$71,884
1.08
-8.82%
21184.7M
Information
157,061
$348,525
2.8
29.45%
132565.63M
Educational Services
91,862
$51,061
1.1
3.02%
5038.48M
Wholesale Trade
70,360
$122,698
0.7
-21.43%
20956.56M
Arts, Entertainment, and Recreation
66,685
$40,532
1.13
-31.18%
3722.8M
Management of Companies and Enterprises
53,312
$200,654
1.22
-11.97%
12183.71M
Utilities
12,271
$229,197
1.29
1.17%
9126.28M
Agriculture, Forestry, Fishing and Hunting
6,311
$63,359
0.11
-1.57%
537.22M
Mining, Quarrying, and Oil and Gas Extraction
1,757
$55,299
0.13
-51.66%
253.84M
Unclassified
41
$121,562
0.01
-99.61%

Source: LIghtcast

(Updated 01-05-2023 11:18 pm)

Job Postings by Industry

By Number of Unique Active Postings

Industry Sector (2-Digit)Latest 30 Days Unique PostingsLatest 30 Days Unique Postings % Change
Unclassified Industry20,208
-69%
Professional, Scientific, and Technical Services10,573
-79.7%
Health Care and Social Assistance9,207
-58.1%
Administrative and Support and Waste Management and Remediation Services9,041
-80.5%
Retail Trade6,469
-91.2%
Manufacturing5,277
-105.8%
Educational Services4,359
-57.8%
Accommodation and Food Services3,357
-73.1%
Finance and Insurance3,237
-95.6%
Information2,801
-83.1%
Wholesale Trade2,230
-61.6%
Other Services (except Public Administration)1,613
-56.4%
Real Estate and Rental and Leasing1,556
-63.8%
Construction1,531
-76.2%
Transportation and Warehousing1,450
-90.1%
Public Administration830
-72.4%
Arts, Entertainment, and Recreation718
-59.6%
Utilities330
-69.1%
Management of Companies and Enterprises214
-70.6%
Agriculture, Forestry, Fishing and Hunting126
-33.3%
Mining, Quarrying, and Oil and Gas Extraction91
-44%

Source: Lightcast

(Updated 01-05-2023 11:18 pm)

Postings vs. Hires by Occupation (2022)

Outer bar: Postings, Inner bar: Hires

Total Postings (2022)
Total Hires (2022)

Source: Lightcast

(Updated 01-18-2023 6:48 pm)