Job growth continues in the nine-county region. It does appear to be cooling off a bit. The core West-Bay Counties are still out-pacing the counties with more traditional employment characteristics.
What’s worrisome? Well, growth appears to be high-tech (one sector) dependent. Many other jobs are being formed in health care and social services. Service jobs won’t keep this market vital. Other sectors of the economy and non-core communities are not sharing in the rapid growth. High-tech manufacturing employment is way down in the Silicon Valley.
What is also worrisome? Housing prices make new all-time highs… but it’s spotty. Lending? The Fed is imposing additional capital requirements on the 8 biggest banks in the country. So what? That means less free capital which equals less lending at a time when the economy is really just barely getting along. Not to worry… the “alternative lenders” are stepping into the breach. Oh, my! Don’t worry. Take my escalator app to nowhere. It’s free of charge and always will be! (At least until we run out of venture capital since we can’t “monetize” this silly app.)