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Controller: San Francisco job market shows slow recovery; downtown retail foot traffic still weak
Summary
Ted Egan of the Controller’s Office briefed the commission on economic indicators showing a gradual jobs recovery (unemployment 3.9%), improving transit ridership, but retail foot traffic and hotel revenues remain below pre-pandemic levels.
Ted Egan, chief economist at the San Francisco Controller’s Office, presented the office’s bimonthly economic indicators on March 24, describing a slow recovery with mixed signals across sectors.
Key takeaways: Egan said the city’s seasonally adjusted unemployment rate was about 3.9% and that employment has shown slow growth; retail foot traffic (Placer.ai data) was about 65% of normal as of…
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