San Francisco Chamber
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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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Return to Office

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.

Back to Office Barometer

% return to office based on pre-2020 baseline

San Francisco metro
New York metro
Chicago metro
Los Angeles metro

Source: Kastle

(Updated 08-31-2023)

Bay Area Employment Recovery Through Recessions

% recovery from baseline

Dot Com
Financial Crisis
COVID

Source: JLL

(Updated 07-17-2023)
Total Commercial Vacancy Rate
25.1%

Office Vacancy Rate Trend

JLL

(Updated 07-17-2023)

San Francisco Office Space Activity

OfficeInventory (s.f.)Total vacancy (%)YTD Completions (s.f.)Under Development (s.f.)
SF Total
86,447,463
28.3%
049,958
Class A
61,699,903
27%
049,958
Class B
22,698,271
31.5%
00
Class C
2,049,289
34%
00

Source: JLL

(Updated 07-17-2023)

Bridge Crossings

Golden Gate Bridge
Bay Bridge

Source: MTC, Goldengate.org

(Updated 06-21-2023)

Seated Diners

% change compared to same day 2022

Source: OpenTable

(Updated 06-21-2023)
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

MarketQ1 2023 VC Funding
1Bay Area
$37,828,754,479
2New York
$16,438,702,366
3Tennessee
$9,320,232,224
4Washington DC
$7,613,861,783
5Boston
$7,540,075,526
6Los Angeles
$6,922,139,113
7Dallas - Fort Worth
$5,394,252,356
8Chicago
$3,061,087,512
9Denver
$2,590,456,556
10Northern Nevada
$2,436,457,976
11Miami - West Palm Beach
$2,405,140,715
12Atlanta
$2,282,606,802
13Austin
$1,997,663,850
14San Diego
$1,817,338,902
15Houston
$1,757,572,986
16Seattle - Tacoma
$1,612,726,133
17Nashville
$1,093,690,947
18Missouri
$1,081,535,446
19Portland
$1,026,311,493
20Pennsylvania
$959,965,335
21Massachusetts
$934,501,720

Source: JLL

(Updated 07-17-2023)

Top Companies by VC Raised

2023 YTD

Company NameTotal Raised in 2023 YTD
OpenAI
$10,300,000,000
Stripe
$6,500,000,000
Inflection AI
$1,300,000,000
Anthropic
$1,050,000,000
Generate Capital
$923,779,407
Eolian
$515,000,000
SandboxAQ
$500,000,000
Rippling
$500,000,000
Netskope
$401,000,000
Cellink
$362,000,000
Adept AI
$350,000,000
Zipline
$330,000,000
Pristine Sun
$250,000,000
Skydio
$230,000,000
HeartFlow
$215,000,000
CARGO Therapeutics
$200,000,000
Astranis
$200,000,000
KoBold Metals
$195,000,000
Demandbase
$175,000,000
Typeface
$165,000,000

Source: JLL

(Updated 07-17-2023)
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 06-21-2023)
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 06-21-2023)
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 07-17-2023)
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 07-17-2023)
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 (Industry Concentration)2017-2022 % Change in Jobs2022 GRP
Professional, Scientific, and Technical Services
462,783
$179,728
1.86
7.26%101125.79M
Health Care and Social Assistance
372,908
$88,584
0.99
8.2%40234.36M
Government
325,097
$135,545
0.84
-2.71%52535.28M
Retail Trade
228,366
$62,296
0.74
-8.88%24843.8M
Accommodation and Food Services
222,427
$67,182
0.93
-11.33%16736.35M
Other Services (except Public Administration)
209,704
$43,447
1.14
-7.57%10832.43M
Finance and Insurance
201,874
$241,234
1.03
10.36%69005.06M
Administrative and Support and Waste Management and Remediation Services
181,560
$73,458
0.87
-2.98%23176.2M
Real Estate and Rental and Leasing
177,559
$72,855
1.05
2.79%22268.79M
Transportation and Warehousing
170,903
$81,483
0.94
16.6%16512.42M
Manufacturing
164,657
$160,854
0.76
9.07%69332.8M
Construction
164,545
$100,469
0.85
4.27%21089.33M
Information
163,932
$387,548
2.75
35.89%138879.04M
Arts, Entertainment, and Recreation
85,969
$41,167
1.19
-11.28%5536.54M
Educational Services
78,095
$59,911
1.03
-12.42%5528.05M
Wholesale Trade
73,716
$125,371
0.7
-17.68%25056.89M
Management of Companies and Enterprises
53,989
$206,327
1.14
-10.85%12351.4M
Utilities
12,709
$222,786
1.29
4.77%11743.08M
Agriculture, Forestry, Fishing and Hunting
6,903
$61,633
0.12
7.63%754.9M
Mining, Quarrying, and Oil and Gas Extraction
1,947
$51,264
0.13
-46.46%609.25M

Source: LIghtcast

(Updated 09-21-2023)

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 Industry30,764
22.79%
Health Care and Social Assistance17,169
20.76%
Professional, Scientific, and Technical Services15,463
18.32%
Administrative and Support and Waste Management and Remediation Services14,956
29.15%
Retail Trade8,861
17.73%
Manufacturing8,365
14.98%
Educational Services8,028
24.99%
Accommodation and Food Services5,785
18.01%
Finance and Insurance5,054
10.13%
Information4,610
17.53%
Wholesale Trade3,244
18.71%
Other Services (except Public Administration)2,455
15.89%
Construction2,443
20.34%
Real Estate and Rental and Leasing2,175
12.97%
Transportation and Warehousing2,119
24.54%
Public Administration1,730
25.66%
Arts, Entertainment, and Recreation1,046
14.72%
Utilities698
20.92%
Management of Companies and Enterprises311
14.79%
Mining, Quarrying, and Oil and Gas Extraction206
22.33%
Agriculture, Forestry, Fishing and Hunting195
21.54%

Source: Lightcast

(Updated 06-21-2023)

Postings vs. Hires by Occupation

Outer bar: Postings, Inner bar: Hires

Total Postings (2023)
Total Hires (2023)

Source: Lightcast

(Updated 06-21-2023)
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