Quarterly Economic Dashboard
Source: CA State Employment Development Department
Oakland's unemployment rate used to be substantially higher than the County and the State. It is now approaching Alameda County's unemployment (4.6% in June 2015) and lower than the California unemployment (6.3%). The U.S. unemployment rate is 5.3%, down from 6.2% last year.
The tech economy includes the Information sector as well as related jobs in other sectors, such as digital advertising or engineering. City of Oakland estimates total tech employment in Oakland as 8,642 jobs.
Sales taxes decreased slightly since last year, while Real Estate Transfer Taxes rose. The Transient Occupancy Tax, based on hotel occupancy, rose more than 50% over this time last year. Due to the time needed for collection and analysis, sales tax reporting lags one quarter and is reported here for Q1 2015.
Sources: City of Oakland Revenue Department, HdL Companies
Total Fiscal Year 2014-2015 Revenues
Development Pipeline (Q1)
Industrial Vacancy: 3.6%
Rent/square foot: $7.43
Retail Vacancy: 2.8% Rent/square foot: $22.56
Office Average Rents/Square Foot
Zillow Rent Index-- All Homes
Median Single Family Home Price
Units in pipeline are approved, under review or in pre-application discussion with the Planning Department.
Housing: 11,000 units in pipeline
835 units under construction or recently completed
Commercial: 3.5 Million sf in pipeline
681,000 sf under construction
Sources:HdL Companies, Zillow, CoStar Market Analystics, City of Oakland Planning & Building Department.
Dashboard Compiled by Economic and Workforce Development Department. Contact: [email protected]
Office Vacancy: 9.2%
Rent/square foot: $27.80