#economic-trends

#economic-trends

Bay Area pay raises outpaced Southern California for the first time since 2020. [ more ]

Job markets in the Bay Area and California showed significant gains in March, countering previous losses. [ more ]

Southern California wages rose at a 5% annual rate in 2023 Q4, the No. 2 hike among 15 markets.

The north-south gap in pay raises in California has shifted, with Southern California now experiencing higher wage increases than the Bay Area. [ more ]

California is experiencing a widespread worker shortage across various sectors despite having nearly a million unemployed workers.

The pandemic and economic shutdown led to job loss, migration, and workers leaving the labor force, contributing to the current shortage. [ more ]

UX Designers need to augment their skills to stay competitive in the job market.

Weak economies lead to a higher demand for Product Design over traditional UX Design. [ more ]

Home prices in the U.S. have outpaced inflation by over twice since 1963.

Income growth has not kept up with the increase in home prices, leading to a significant rise in the home-price-to-income ratio. [ more ]

The housing market in 2024 is facing a mixture of stability and volatility, with rising interest rates and inflation as key challenges.

Factors shaping the housing market in 2024 include rising interest rates, inflation, potential housing recession, robust demand from millennials, and limited housing supply. [ more ]