This morning’s San Francisco Chronicle has a story by Sam Zuckerman, Economics writer, about the very weak job market in the San Francisco Bay Area.
What is pushing people out is the collapse of the job market — approximately 180,000 jobs have disappeared from the regional economy in the past two years — plus a cost of living that remains in the stratosphere. Workers both in tech and out are fleeing the region by the tens of thousands, seeking opportunities elsewhere, economists and demographers say.
“I would not be surprised if 50,000 people have left the Bay Area because of the economy,” said Ken Rosen, an economist at UC Berkeley’s Haas School of Business.