East Bay leads the way in regional hiring
Saint Mary's College assistant professor of economics Kara Boatman was quoted in an article in Silicon Valley Biz Ink about a recent survey by the Bay Area Council that indicates the East Bay economy shows more promise than Silicon Valley.
Lower wages and cheaper housing are key reasons companies locate in the East Bay, opposed to higher-cost regions such as the South Bay and Peninsula, said Boatman.
"The data I see suggest that while employment may just be stabilizing in Silicon Valley, they're expecting a 1.5 percent increase in job growth in the East Bay," Boatman said. "My own view is that it is really based on housing prices."
Lower housing costs attract more talent, she said. Combine that with labor costs 12 percent to 20 percent lower than in Santa Clara and San Mateo counties and it's a perfect storm for employees and employers, she said.