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SF employment expected to improve

SF employment expected to improve

According to Beacon Economics' forecasts, unemployment rate in San Francisco will reach its peak at 9.4 percent this quarter.  Moreover, San Francisco's unemployment is expected to drop to 8.3 percent by the end of 2010 and 7.1 percent by the end of 2011. 

Employment in the construction sector is forecasted to continue to fall until the third quarter of 2010, loosing to 33,730 employees, according to Beacon Economics.

Single family home permits that have fallen 69 percent since the second quarter of 2007 are expected to increase 3.7 percent to 92 permits in the fourth quarter of 2010. 

Nonresidential permits that have fallen 52.8 percent since the fourth quarter of 2007 will start bottoming out in the first quarter of 2010.  They are projected to grow by 24.1 percent over 2011.    

SF Business Times-12/16/2009