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8.A. - Page 38 of 42 <br />10.0% <br />9.0% <br />8.0% <br />7.0% <br />6.0% <br />5.0% <br />4.0% <br />3.0% <br />2.0% <br />1.0% <br />0.0% <br />Redwood City Unemployment Rate <br />8.9% <br />4.3% <br />1.6% <br />ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti <br />,oe`aA Jce >Ji <br />PDQ Q`�a4 ao ms � >acJ �o �a P is > Po4v Q`e� O°%0 P <br />OF <br />ye 'e'. <br />o ya o <br />Source- State of CA -Economic Development Department <br />San Mateo County, like the nation, has suffered a pronounced and deadly surge in COVID-19 cases during <br />the winter of 2020-21; however, with widespread vaccine administration underway in early 2021, there <br />is reason for hope for the economy. An anticipated easing of public health restrictions that would free up <br />economic activity — and a proposed package of federal stimulus funding — may promote a positive <br />economic trajectory beginning later in 2021. <br />According to the Bureau of Labor Statistics (BLS) Western Information Office, wages and salaries for the <br />San Francisco area, which includes the counties of Alameda, Contra Costa, Marin, San Francisco, and San <br />Mateo, for the 12 -month period ended December 2020 advanced at a rate of 3.7 percent, as compared <br />to 2.9 percent for the nation for the same period. As can be seen in the chart below, the Employment <br />Cost Index for the San Francisco area has experienced recent volatility, but has consistently maintained <br />an equal or higher level than the United States. <br />E <br />569 <br />