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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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

Dot Com
Financial Crisis
COVID

Source: JLL

(Updated 05-10-2023 9:18 pm)
Total Commercial Vacancy Rate
25.1%

Office Vacancy Rate Trend

JLL

(Updated 05-10-2023 9:20 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
86,320,089
-1,140,896
26%
49,958
Class A
61,436,355
-794,551
24%
49,958
Class B
22,834,445
-355,972
30%
0
Class C
2,049,289
9,627
34%
0

Source: JLL

(Updated 04-12-2023 11:30 pm)

Bridge Crossings

Golden Gate Bridge
Bay Bridge

Source: MTC, Goldengate.org

(Updated 05-10-2023 9:30 pm)

Seated Diners

% change compared to same day 2022

Source: OpenTable

(Updated 05-03-2023 9:56 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 04-12-2023 11:52 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 04-12-2023 11:50 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 04-12-2023 11:32 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 04-12-2023 11:37 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 (Industry Concentration)2017-2022 % Change in Jobs2022 GRP
Professional, Scientific, and Technical Services
435,013
$184,126
1.81
5.63%99518.92M
Health Care and Social Assistance
366,110
$87,246
1
7.31%40297.12M
Government
323,383
$135,536
0.85
-3.22%51133.4M
Retail Trade
227,590
$62,665
0.74
-8.47%25921.3M
Other Services (except Public Administration)
208,575
$43,588
1.14
-4.83%10492.12M
Accommodation and Food Services
207,616
$68,382
0.91
-17.58%19944.74M
Finance and Insurance
201,893
$241,683
1.05
10.38%77829.61M
Real Estate and Rental and Leasing
176,993
$73,884
1.07
2.46%22636.66M
Administrative and Support and Waste Management and Remediation Services
172,973
$74,389
0.86
-3.54%21538.03M
Construction
171,961
$97,485
0.89
1.69%20814.37M
Transportation and Warehousing
167,786
$81,816
0.95
14.69%16408.67M
Manufacturing
160,773
$161,767
0.76
7.6%64428.87M
Information
158,383
$371,841
2.74
32.89%127109.5M
Arts, Entertainment, and Recreation
81,356
$41,788
1.17
-12.17%5305.9M
Educational Services
75,455
$58,843
0.97
-7.54%5092.79M
Wholesale Trade
73,010
$126,397
0.72
-17.99%24312.63M
Management of Companies and Enterprises
53,873
$206,325
1.19
-11.05%12471.69M
Utilities
12,672
$222,819
1.32
4.65%11033.52M
Agriculture, Forestry, Fishing and Hunting
6,685
$61,306
0.12
5.66%712.7M
Mining, Quarrying, and Oil and Gas Extraction
1,994
$52,385
0.14
-45.04%602.66M

Source: LIghtcast

(Updated 04-11-2023 6:31 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 Industry30,764
22.8%
Health Care and Social Assistance17,169
20.8%
Professional, Scientific, and Technical Services15,463
18.3%
Administrative and Support and Waste Management and Remediation Services14,956
29.1%
Retail Trade8,861
17.7%
Manufacturing8,365
15%
Educational Services8,028
25%
Accommodation and Food Services5,785
18%
Finance and Insurance5,054
10.1%
Information4,610
17.5%
Wholesale Trade3,244
18.7%
Other Services (except Public Administration)2,455
15.9%
Construction2,443
20.3%
Real Estate and Rental and Leasing2,175
13%
Transportation and Warehousing2,119
24.5%
Public Administration1,730
25.7%
Arts, Entertainment, and Recreation1,046
14.7%
Utilities698
20.9%
Management of Companies and Enterprises311
14.8%
Mining, Quarrying, and Oil and Gas Extraction206
22.3%
Agriculture, Forestry, Fishing and Hunting195
21.5%

Source: Lightcast

(Updated 04-11-2023 6:31 pm)

Postings vs. Hires by Occupation

Outer bar: Postings, Inner bar: Hires

Total Postings (2022)
Total Hires (2022)

Source: Lightcast

(Updated 04-11-2023 6:31 pm)