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Oakland Economic Dashboard Q1 2015

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Quarterly Economic Dashboard Q1 2015 January-March
Employment
Unemployment Rate
6.3%
Employment
Last Year: 10.3%
196,333
Size of Labor Force
209,400
Last Year: 183,867
Last Year: 205,000
Did you know ?
Oakland's unemployment level has dropped dramatically in the last five years, from 17.1% in Q1 2010 to 6.3% in Q1 2015. It has continued to fall into Q2 (April-June). In the last year, the City added almost 12,500 jobs, while the size of the working population increased by 4,400.
6.3%
17.1%
Quarterly City Revenues
Sales Tax
Real Estate Transfer Tax
TOT Tax (Hotels)
$32,297,846 (Q4 2014) Last Year: $32,345,229
$10,381,995 Last Year: $12,973,533
$4,540,000 Last Year: $2,863,500
Sales taxes have increased since last year, and the Transient Occupancy Tax, based on hotel occupancy, is rising substantially. Real Estate Transfer Taxes were higher in Q1 2014 due in part to a higher transfer volume during Q1 2014. Sales tax reporting lags one quarter for collection and analysis and is reported for Q4 2014.
+ 6%
-20%
+58%
Sources: CA State Employment Development Department, City of Oakland Revenue Department, HdL Companies
Unemployment Rate
Residential Real Estate
Commercial Real Estate
Building Permits
Development Pipeline
Industrial Vacancy: 5.2% Rent/square foot: $8.31
East Bay: 7.4%, $8.47
Retail Vacancy: 3.2% Rent/square foot: $21.80
East Bay: 4.2%, $21.95
Office Average Rents/Square Foot
Zillow Rent Index-- All Homes
Median Single Family Home Price
$65.87 (SF)
$25.45 (OAK)
$24.81 (East Bay)
Office Vacancy Rates
11.2%
10.4%
5.5%
Office Rents have crept above the East Bay average this quarter, but remain less than half of San Francisco.
Units in pipeline are approved, under review or in pre-application discussion with the Planning Department.
Housing:  11,000 Units 835 units under construction or recently completed
Commercial:  3.5 Million square feet  681,000 sf under construction
H
Housing
1
C
Commercial
20
Sources:HdL Companies, Zillow, CoStar Market Analystics, City of Oakland Planning & Building Department. Dashboard Compiled by Economic and Workforce Development Department. Contact: [email protected]