The Bay Area economy closed out 2015 as among the strongest in the United States. Employment in the region has increased substantially since the beginning of the current cycle; the Bay Area has added over 628,800 jobs since Q3 2010. Total regional employment now stands in excess of 3.7 million, while unemployment is down to 4.0% as of November 2015. Total nonfarm employment increased 3.5% year-over-year, but grew only 2.4% (annualized) in the fourth quarter. According to Moody’s Analytics, employment growth is expected to moderate into the low 2% range in 2016 and 2017 for two reasons—the economy is already at full employment, plus weaker global growth is muting demand for goods and services.
Source : Cushman & Wakefield