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The Bay Area economy: down but not out

Author

Listed:
  • Mary C. Daly
  • Mark Doms

Abstract

After being the quintessential darling of the nation's economy, the San Francisco Bay Area has been battered by the information technology (IT) downturn; nearly one in ten jobs in the Bay Area has disappeared since the peak of late 2000, and half of those were in the IT sector. This Economic Letter explores the sources of the boom and bust in the Bay Area and puts the region's recent contraction in the context of the U.S. and other regional IT centers. This Letter also compares the current episode of weakness in the Bay Area to the long and deep recession in the Los Angeles area in the early 1990s.

Suggested Citation

  • Mary C. Daly & Mark Doms, 2003. "The Bay Area economy: down but not out," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue nov7.
    • Handle: RePEc:fip:fedfel:y:2003:i:nov7:n:2003-33
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