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California Unemployment Rate Climbs To 12.4 Percent
SAN FRANCISCO (BCN) — California’s unemployment rate climbed to 12.4 percent in August, which is up from 12.3 percent the previous month, according to the latest figures released by the state’s...
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California Poverty Rate Highest In 11 Years
SAN FRANCISCO (AP) – The state’s poverty rate in 2009 was the highest in 11 years, according to a nonpartisan public policy research group. Census Bureau data released Thursday shows the number of...
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Annual Ranking Shows Charitable Contributions Plummeting
SAN FRANCISCO (KCBS) – The economic downturn took an incredible toll on the country’s biggest charities. A new report showed the steepest decline in donations in two decades. KCBS’ Doug Sovern Reports:...
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Treasury Secretary Speaks To Palo Alto Audience
PALO ALTO (BCN) — U.S. Secretary of Treasury Timothy Geithner said at a Palo Alto talk Monday that bank and government officials made catastrophic mistakes with the economy, but that it is slowly...
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Robert Reich Tells KCBS Recession Recovery Will Be Slow
SAN FRANCISCO (KCBS) — Economists are saying that we’re out of the recession and into recovery, albeit a very slow one. But high unemployment has meant less purchasing power, so few Americans actually...
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Stimulus Money A Focal Point In California Senate Race
WASHINGTON (AP) — Republican Senate challenger Carly Fiorina points to California’s 12.4 percent unemployment rate to make the case that the federal $814 billion economic stimulus package was a...
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California Default Notices Crept Higher In Third Quarter
SAN DIEGO (AP) – Mortgage default notices in California have edged up from last quarter for the first time since early last year but remain below their year-ago numbers. MDA DataQuick said Tuesday...
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HP Results Show Seesawing Nature Of Tech Recovery
PALO ALTO (AP) — Hewlett-Packard Co.’s results showed Monday how lopsided the recovery in technology spending has been. HP’s results are a barometer of demand across a swath of industries, from...
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Arts Organizations Struggling To Make Ends Meet
SAN FRANCISCO (KCBS) – Like so many other industries hit by the recession, a growing number of arts organizations have been struggling to make ends meet. Experiencing the arts was traditionally about...
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Treasure Island Youth Jobs Program Lauded For Its Success
SAN FRANCISCO (KCBS) – Training a generation of young workers for jobs in the green sector and the health industry can help lead the country out of chronically high unemployment, Rep. Barbara Lee said...
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Californians Seeking Unemployment In Record Numbers
SAN FRANCISCO (KCBS)- California’s Employment Development Department paid a record amount in unemployment benefits last year, as the Golden State’s high unemployment rate drove 1.7 million Californians...
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Peninsula Shelter Sees Increase In Homeless Families
SAN MATEO (KCBS) – Dozens of homeless families have been forced to bide their time on a waiting list at a peninsula shelter that’s seen unprecedented demand for services because of layoffs and...
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Newsom Touts Job Creation With Texas Governor
AUSTIN, Texas (CBS / AP) — One of them is a conservative Republican who often sides with the tea party. The other is a lifelong Democrat who has promoted gay marriage and supported universal health...
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East Bay Customers Could Face Water Rate Hike
OAKLAND (KCBS) – Leaders of the East Bay Municipal Utility District are considering a plan to raise water rates over the next two years. District officials said costs are going up while water usage is...
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About The Bay: The Plight Of Day Laborers
SAN FRANCISCO (KCBS) – Work has slowed down for many day laborers in the Bay Area as the economy slowly tries to rebound. At San Francisco’s Day Laborer Agency calls come in as a contractor is looking...
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Sales Of High-End Goods Soar Amid Economic Uncertainty
PALO ALTO (CBS 5) – A recent Wall St. selloff has some traders fearing a double-dip recession. That perception may scare off many would-be shoppers, but not those who can afford luxury goods. High-end...
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ConsumerWatch: More Americans Ditching Cable, Satellite TV
SAN FRANCISCO (CBS 5) – Increasing numbers of Americans are dropping cable and satellite television service, and the weak economy is to blame, according to the Associated Press. People are complaining...
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About The Bay: SF Economy Going In Dueling Directions
SAN FRANCISCO (KCBS) – It’s the best of times in San Francisco. And, the worst of times, too. Unemployment is sky-high, but it’s perhaps harder than ever before to score a table at a swanky restaurant...
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About The Bay: Technology May Actually Decrease Available Jobs
SAN FRANCISCO (KCBS) – The recession isn’t the only reason there are fewer jobs out there today; technology is also changing the face of the job market. It’s helping business but not always helping the...
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Downtown Walnut Creek Experiencing Economic Boom
WALNUT CREEK (CBS SF) – It’s not all bad economic news in the Bay Area as downtown Walnut Creek is seeing a resurgence in business. Walnut Creek Economic Development Director Ron Gerber said one of the...
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Silicon Valley Gaining Back Jobs Lost In Recession
SAN JOSE (KCBS) – A report released Thursday claimed it will take another two to three years for the Bay Area to regain all jobs that were lost in the recession. However, the report also suggested that...
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Vallejo May Implement Fees For Blighted Foreclosure Cleanup
VALLEJO (KCBS) – Foreclosed properties in Vallejo are being targeted by city officials who claim that some of them have become eyesores in the neighborhood. Officials are now proposing stiff fines for...
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Economic Report: Bay Area Economy Rebounds From Recession
SAN FRANCISCO (KCBS) – A new report on the Bay Area’s economy show it’s doing extremely well compared to other regions around the country and world, but there is also room for improvement. Bay Area...
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Report Tracks Foreclosure’s Overlooked Impact On California Children
SAN FRANCISCO (KCBS) – California is one of 10 states where home foreclosures have hit children harder than elsewhere in the nation, according to a study that documents the far reaching impact of the...
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CalPERS Reports Dismal 1 Percent Return
SACRAMENTO (CBS/AP) — The nation’s largest public pension fund reported a dismal 1 percent return on its investments, a figure far short of projections that will likely add pressure on California’s...
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Opinion: Auto And Bank Bailouts Prove Effective
One of the signs that we are better off than we were four years ago comes in the form of a press release from the Treasury Department. Following the bailout of American International Group (AIG) in...
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California Ski Resorts Hiring More Locals
LAKE TAHOE (KCBS) – As Tahoe resorts report the first snow of the season, operators have been holding job fairs this as they look to hire around 15,000 seasonal workers, many of them local. Seasonal...
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California Attorney General Sues Standard & Poor’s Over Investment Ratings
SAN FRANCISCO (CBS/AP) – California’s attorney general on Tuesday joined the U.S. Department of Justice and several other states in seeking billions of dollars in damages from the debt rating agency...
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New Car Sales Surge Across California
PETALUMA (KCBS) – Things are certainly speeding along, and in the right direction, for California auto dealerships. The Bay Area is no exception – local new car sales figures mirror those reported...
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Phil Matier: Lessons From Detroit’s Bankruptcy
SAN FRANCISCO (KCBS)— There are some lessons to be learned from Detroit’s filing for bankruptcy. In recent years, California has seen cities like Vallejo and Stockton suffer similar fates. The issues...
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Enrollment In State’s Food Assistance Program More Than Doubled During Recession
SAN FRANCISCO (KCBS)— Participation in CalFresh, California’s food assistance program, more than doubled during the economic downturn according to information coming out of the state legislative...
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Analysis: With Bay Area Rents At Record Highs, How Do We Find Relief?
PALO ALTO (KCBS)— According to a new report, rent across the Bay Area has reached record highs. The region has averaged nearly double-digit rises annually for the last three years. The study by...
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Bulk Of Gov. Brown’s Revised State Budget Would Go Towards Medi-Cal
SACRAMENTO (KCBS)— California Gov. Jerry Brown released his May revision to the state budget on Tuesday. While it contains a record-high level of spending— $1 billion more than the one he proposed in...
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May Car Sales Return To Pre-Recession Levels
DETROIT (WWJ) - Good weather and a strong Memorial Day weekend helped car buyers ignore reports of recalls, pushing car and truck sales up more than ten percent in May. “I’m totally flabbergasted,”...
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Some Fear Auto Industry Returning To Bad Habits
DETROIT (AP) – Big discounts. Six- or seven-year loans, in some cases to buyers who would have been turned down in the past. As the auto industry strives to sustain its post-recession comeback, car...
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Bay Area Baby Boom Possibly Triggered By Improving Economy
http://media.sanfrancisco.cbslocal.com/CBSSF_20150615172851450AA.mp4 WALNUT CREEK (CBS SF) — Bay Area hospital delivery rooms are keeping busy with a rise in births after a slowdown during the...
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Statewide Teacher Shortage Hits The Bay Area Hard
SANTA CLARA (CBS SF) — Some San Francisco Bay Area school districts are working hard to attract new educators amid a statewide teacher shortage. Marisa Hanson, president of the East Side Teachers...
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Moody’s Stress Test Finds California Would Fare Poorly In Recession
SAN FRANCISCO (KCBS) – Among the big states, the California is the least able to ride out the next recession, according a stress test performed by Moody’s Investor Service. Christopher Thornberg at...
View ArticleBay Area Economists Weigh In On Whether U.S. Is Headed For Depression From...
OAKLAND (KPIX 5) — With new unemployment figures showing 20 million American jobs lost in the month of April alone, KPIX 5 asked two Bay Area experts to explain where the U.S. could be headed at this...
View ArticleWildfires, Smoke During Pandemic Intensify Economic Pain In California, West...
SAN FRANCISCO (CBS / AP) — The fires consuming the forests of California and Oregon and darkening the skies over San Francisco and Portland are also damaging a regional economy already singed by the...
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