According to the Center for Continuing Study of the California Economy based in Palo Alto the Bay Area has the 18th strongest economy in the world ranking ahead of the Netherlands and just behind Turkey. Moreover, the Bay Area’s gross domestic product, at 5.2 percent grew at the fastest rate in the nation, over three times faster than the national rate of 1.5 percent and double the state rate of 2.9 percent.
California has reached full employment with the Bay Area just below 3 percent.
Analysts agree that future employment and economic growth are tied to the availability of skilled workers – and housing affordability is a key factor in maintaining those worksers.
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