Latest East Bay economic data is in from the East Bay Economic Development Alliance.
East Bay unemployment declined in April (latest complete figures) to 11.4% from 11.9%. California unemployment for the same time period was 12.3%, and the National unemployment rate was 9.5%.
East Bay Commercial building is still taking a pounding, down nearly 60.4% versus the same evaluation period last year. Permits fell most sharply in the Napa region (down 93.2%).
Leaving on some positive news, I was in a networking meeting last week, and a prominent east bay commercial banker remarked that he was aware of a development company beginning new home construction. This was the first real new home construction start that anyone in our group was aware of, and hopefully a sign of good things to come for this area.
