san francisco unemployment rate 2020

Since 2005 the unemployment rate in South-San-Francisco, California has ranged from 1.9% in December 1999 to 15.0% in May 2020. <<9DB74B82140B1E4A8CDDEC40475C23EE>]/Prev 182524/XRefStm 1095>> Among the city's non-farm employment . Convention Bookings At Moscone 14. Older residents (those 65 and over) are more likely to be in poverty than other age groups. 247 27 Employment. While Silicon Valley's unemployment rate dipped to 5.1% in March, San Francisco's stood at 5.4% and the entire Bay Area was at 5.8%. The unemployment rate in San Francisco peaked in April 2020 at 13.9% and is now 8.5 percentage points lower. N/A.

Nov 2021. Unemployment Insurance Claims (Not Seasonally Adjusted) The following data is from a sample week that includes the 19th of each month: In related data that figures into the state's unemployment rate, there were 1,007,331 people certifying for Unemployment Insurance benefits during the December 2020 sample week. That reflected some improvement from August 2020, when the unemployment rate stood at 8.3 percent. By April, these numbers rose to 13.1% for men and 15.5% for women. Despite the unemployment rate in San Francisco having declined from 6.7 percent in October to 5.7 percent in November, the number of people living in San Francisco with a paycheck actually dropped by 6,600 last month to 534,100, which is 44,000 fewer employed residents than . News. The San Francisco-San Mateo region lost 66,800 hotel and restaurant jobs for a 55 percent decline, while Santa Clara County lost 44,600 restaurant and hotel positions, a drop of 53 percent. Economic conditions. Found inside â Page 18allowing for the trend level of interest rates to vary over time, we create more stable long-run expectations of ... Federal Resrve Board of Governors, Federal Reserve Bank of New York, and Federal Reserve Bank of San Francisco. Marin's unemployment rate in October declined from 3.6% in September and was slightly more than half of the 6% rate in October 2020, during some of the darkest days of the COVID-19 pandemic . 0000011934 00000 n Get data on a variety of issues pertaining to Cincinnati. San Francisco is a city located in San Francisco County and San Mateo County California.It is also the county seat of San Francisco County.With a 2020 population of 883,255, it is the 4th largest city in California (after , , and ) and the 17th largest city in the United States. Category. In June, local job growth was the strongest since June 2020, with 17,200 jobs gained in San Francisco and San Mateo counties. 2012. Last week, new unemployment claims rose sharply in California to more than 80,700, accounting for 31% of all claims nationally. The economy in San Francisco is the sixth-largest in the country, with a GDP of $501 billion, according to the JP Morgan Chase Institute. 0000001095 00000 n 0000000852 00000 n 45% of During January and February of 2020, the final two months before government . From its first ominous stirrings, renowned journalist Eli Saslow began interviewing a cross-section of Americans, capturing their experiences in real time: An exhausted and anguished EMT risking his life in New York City; a grocery store ... Found inside â Page 30... an oil company headquartered near San Francisco, acquired Gulf in the company's largest merger to that date.102 While the impact of layoffs and high unemployment rates on communities experiencing ritual abuse cases is difficult to ... "A groundbreaking and illuminating look at the state of abortion access in America and the first long-term study of the consequences--emotional, physical, financial, professional, personal, and psychological--of receiving versus being ... Hotel Occupancy Rate 9. 273 0 obj <>stream FRB San Francisco Working Paper 2020-18, May. 2020. This week last year, nearly 7,000 claims were recorded. Percentage of Public School Students (2018) White. San Francisco is currently growing at a rate of 0.10% annually and its population has increased by 9.69% since the . unemployment peaked at 14.5% in April 2020. PM Freeway Speed 16. • The San Francisco County population is expected to grow more slowly than the population of the broader Bay Area. Found inside â Page 3382 The unemployment rate for American women soared from 4.4 percent in March âWhat we can see in the data 2020 to 16.1 ... This past year, Stoimenova, who now lives with her baby and 3-year-old child in California's San Francisco Amid ... Found insideSan Francisco , CA : Jossey - Bass Publishers . ... Multiracial patient experiences with racial microaggressions in health care settings . ... 2020. COVID - 19 : A potential public health problem for homeless populations . Found insideUS Bureau of Labor Statistics, âCivilian Unemployment Rate,â accessed August 28, 2020, ... John Gramlich, â5 Facts about Crime in the U.S.,â Pew Research Center, October 17, 2019, ... (San Francisco: HarperOne, 2019). 9. The San Mateo County unemployment rate was 4.6 percent in August, down from 4.8 percent in July. Nebraska's unemployment rate fell to a mere 1.9% last month, the lowest a state has reached . '�n��m�>�:s�"3�r��l�n��G)��EG�a�� "xZ��- To determine the county in every metropolitan area where COVID-19 is growing the fastest, 24/7 Wall St. compiled and reviewed data from . 2020 2020 2020-2022 2020-2022 2022 . In December 2020, the Hispanic or Latino unemployment rate was 9.3%, over three points higher than the white unemployment rate. �Ȣ�"�� ګ��܀��/�e�%+|%�$��8��lf��1��vW� �>�. Found inside â Page 54San Francisco had the highest population density outside of New York City, with Suffolk County, MA (Boston); Philadelphia ... The national annual average unemployment rate was 3.7 percent in 2019, continuing a steady drop since 2010. Unemployment rates for the nation and selected areas . h�bbd```b``�"�H0�#X\ D��M�@$�,�d�Z 0000004050 00000 n Nebraska and Utah had the lowest rates, at 2.0% and 2.4% . San Francisco 49ers; San Francisco Giants; . Benefits, Pay. San Francisco International Airport Enplanements 15. Benefits, Consumer price indexes, Consumer spending, Employment, Industry price indexes, Pay, Unemployment. 0000001444 00000 n unemployment rate by age ranges unemployment rate by age ranges . %PDF-1.6 %�� SAN FRANCISCO— The Bay Area's employment rate dropped in January from 6.4 percent in December to 6.3 percent before the states stay-at-home order. 0000144088 00000 n The highest unemployment rate in the Bay Area was Solano County, at 10.3 percent; the highest in the state was Imperial County, at 22.9 percent. 469 0 obj <>stream 0000011006 00000 n San Francisco: 22. San Jose-San Francisco-Oakland, CA Unemployment Rate is at 4.80%, compared to 5.70% last month and 8.80% last year. .

Found inside â Page 222Jeff Cox , " A Record 20.5 Million Jobs Were Lost in April as Unemployment Rate Jumps to 14.7 % ; " CNBC , May 8 , 2020 , www.cnbc.com /2020/05/08/jobs-report-april-2020.html . 3 . Andy Stanley , " Clarity , " Leading Through : Three ... San Francisco employment and jobs data (including jobs lost/gained in San Francisco, California) is also available. compare San Francisco unemployment with unemployment in other cities, San Francisco employment and jobs data (including jobs lost/gained in San Francisco, California), smoothed seasonally adjusted metropolitan area data. h�b```f``��A��b�@��Ƞ��`-��5��W��V��?�o=�#¼��ޗ�zA@]��&%��]p��ݳA:��AԸͥ��8��U�^O��+�S�2��~q�XOI�q��ZI�/ɋݬ��z%-.N\��槿X�H(j��_�N `� ! 0 0000000016 00000 n SAN FRANCISCO: 562,100: 540,200: 21,800: 3.9%: SAN . . SAN FRANCISCO (KPIX) — With businesses being forced to shut down amid COVID shelter orders across the state, unemployment . 0000053418 00000 n 23 When COVID-19 initially struck, the Hispanic or Latino . Found inside â Page 3-78After dropping slightly in 1989 to 9.4 % , the civilian unemployment rate in San Joaquin County rose to 9.8 % in 1990. Amador's civilian unemployment rate ... Many residents commute to jobs in the San Francisco and Sacramento areas . News Release. Wolfers, Justin. Meanwhile, transaction activity totaled $1.1 billion, with capital . 2020 at 4:18 pm PT. Region. Federal Reserve Bank of San Francisco Robert G. Valletta Federal Reserve Bank of San Francisco September 2020∗ Abstract The COVID-19 pandemic upended the U.S. economy and labor market. Found inside â Page 47in the surrounding neighborhood, particularly outcomes related to resident health, safety, employment, and education; ... in New Orleans; the Eastern Bayview in San Francisco; and the Yesler neighborhoods in Seattle (HUD, 2020b).

Nebraska and Utah had the lowest rates, at 2.0% and 2.4% . But a newer method of measuring unemployment reveals a far larger portion of the state is struggling to find full-time employment that pays enough . Found inside â Page 75According to data of the Bureau of Labor Statistics (2009), the US unemploy- ment rate has risen from 4.6 percent in 2007 to 8.1 ... The city of San Jose is on a regional level part of the metropolitan region San Francisco Bay Area, ... The unemployment rate in February 2020 was a historic low of 3.5%. In March 2020, the unemployment rate was 4.1% for men and 4% for women. Race/Ethnicy. SACRAMENTO, Calif. -- Following a lull in September, California employers bounced back in a big way last month as they added 96,800 new jobs and lowered the state's unemployment rate to 7.3% New . These measures have led to widespread job loss and record unemployment. From 2019 to 2020, unemployment among youth increased across all large metro areas. As of June 2021, the county's unemployment rate was 5.4 . 0000003198 00000 n We thank Sushant Acharya, Keshav Dogra, Bruce Fallick . This is a sample week that includes the 19th of each month. San Francisco's unemployment rate stood at 6.9% in October, down from 8.4% in September. 14.23%. California's unemployment rate drops to 7.3 percent in October 2021 Employers added 96,800 nonfarm payroll jobs. Nevada and California had the highest unemployment rate in September at 7.5% each, followed by New York and New Jersey at 7.1% each. Privacy policy. Found inside â Page 7-2By 2020 , population in San Joaquin , Contra Costa , and Alameda Counties is expected to increase by 45 % , 16 % ... in 2020 44.7 15.9 21.1 % in unincorporated areas ( 2003 ) 22 15.8 9.3 Employment The employment rate in the three ... The county's unemployment rate ranked 27th in the state, with Marin County having . In 2012, the national congestion level was 26%. Unemployment Rate in FRB-San Francisco District 2008-04-09 2015-12-29 Unemployment Rate in FRB-San Francisco District (DISCONTINUED) . Alameda County: 30 The unemployment rate in San Francisco peaked in April 2020 at 13.9% and is now 8.5 percentage points lower. • The unemployment rate averaged 2.2 percent in 2019. The San Francisco-Oakland-Berkeley, CA, metro area consists of Alameda County, Contra Costa County, San Francisco County, and two other counties. Hispanic. The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters. and Federal Reserve Bank of San Francisco (Petrosky-Nadeau), respectively. Federal Reserve Bank of San Francisco Robert G. Valletta Federal Reserve Bank of San Francisco September 2020∗ Abstract The COVID-19 pandemic upended the U.S. economy and labor market. Found inside â Page 83Bureau of Labor Statistics, U.S. Department of Labor. 2016. Local Area Unemployment Statistics. Retrieved June 13, 2020 (http://www.bls.gov/lau/stalt.htm). 55. General Accounting Office. 2012. Unemployed Older Workers: Many Experience ... San Francisco Unemployment Rate 9.

Hotel occupancy is one of the fastest-improving local indicators. %PDF-1.4 %�� Within the Bay Area, San Francisco was just behind San Jose in job gains. While that number is still higher than normal, it's important to note it has been on a downward trend since it hit a high of 13.2% at the height of the pandemic. endstream endobj 272 0 obj <>/Filter/FlateDecode/Index[14 233]/Length 31/Size 247/Type/XRef/W[1 1 1]>>stream As of June 2021, the county's unemployment rate was 6.9%. The BLS has started publishing smoothed seasonally adjusted metropolitan area data which makes comparisons to state and national data more relevant than the unadjusted numbers. The San Francisco-San Mateo region lost 66,800 hotel and restaurant jobs for a 55 percent decline, while Santa Clara County lost 44,600 restaurant and hotel positions, a drop of 53 percent. Small Business Sentiment: Expected Future Business Travel 13. Hotel Average Daily Rate (ADR) per Night 10. As . Nurses prepare to enter a COVID-19 testing facility at Cal Expo in Sacramento on April 15, 2020. 0000013354 00000 n What he didn't say was that California is still more than a million jobs short of regaining the two-plus million jobs that were erased during the recession and that our unemployment rate of 7.5% . 0000001277 00000 n COVID Surge: California Unemployment Claims Spike Alongside Case Rates. Found insidePrison Policy Initiative, âNew Report Calculates the First Unemployment Rate for Formerly Incarcerated People: 27 Percent, Highest since Great Depression,â San Francisco Bay View, September 29, 2018, ... Found inside â Page 364Metropolitan Statistical Areas : Employment and Unemployment Rates ( Seventy - five largest MSAs ; ranked by population ) ... San Francisco - Oakland - Berkeley , CA Metro Area Riverside - San Bernardino - Ontario , CA Metro Area Detroit ... startxref Get data on a variety of issues pertaining to Reno and the rest of Reno County, Nevada. . there was a constant pool of the San Francisco population unable to pay their rent in full for the entire 15 month period. California County Rank, by August 2020 Preliminary Unemployment Rate: Santa Clara County: 6. EVERYDATA explains, through the eyes of an expert economist and statistician, how to decipher the small bytes of data we consume in a day. endstream endobj 446 0 obj <>>>/OpenAction 447 0 R/Outlines 294 0 R/PageLabels 438 0 R/PageMode/UseNone/Pages 441 0 R/StructTreeRoot 307 0 R/Type/Catalog>> endobj 447 0 obj <> endobj 448 0 obj <>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 449 0 obj <>stream %%EOF h޴�mO�0��?nB��v*!��D;��!+V)MP��$MB֢�r}��]�"� �(�O��GZi; 459 0 obj <>/Filter/FlateDecode/ID[<038743D97F0A4E399ED1B62CA35BB402><2BB678C3ADB06B46AA19BCA282B829E2>]/Index[445 25]/Info 444 0 R/Length 85/Prev 1210026/Root 446 0 R/Size 470/Type/XRef/W[1 3 1]>>stream

�Y�d\l��GYo�~��W!��u>g^��s�F�$ �z��[3fX��d��/�ֽ,��J�@��]��#�.��Q��~s��q?��~�48��{��z�j�k�j�kUR�j�+8��ކ��(��&�g��d��]��)W��K:hr�u��#.v �B�# �|o��c`��;��Ԃ��Z��1� �M�+!k��d��ɷ�э��h�^�C$K�Ȣ��,�?Y�k�˕�M�G��N�[�[��ZJkFd��KW�"͂�"-�ۑ�z��n2u�۪��7�� q r��G.ط^��z��֏��]k'�o� 8̪J San Francisco Office of Economic and Workforce Development www.oewd.org. Population: Continued Growth 9 • San Francisco population expected to reach 969,000 by 2035 (20% increase over current conditions) and 1.1 million by 2040 • San Francisco is one of 20 fastest-growing cities in the United States • 80% of growth expected to occur in 20% of the city • SF is second only to NYC in density 776,733 805,235 815,672 828,816 . Data on deptofnumbers.com is for informational purposes only. San Mateo County: 7. San Francisco Unemployment Rate Not Improving - San Francisco, CA - The loss of 2.4 million jobs statewide in March is the biggest loss in California state history. And the Bureau of Labor Statistics reports that as of August 2021, San Francisco's shrinking unemployment rate of 5% nearly reached the national rate of 4.8 percent. A Misleading Drop in the Bay Area Unemployment Rate. Şahin, Ayşegül, and Christina Patterson. As a point of reference, […] The rate soared .

Some 164,000 jobs were added in the leisure and hospitality sector last month, according to Friday's data, but employment in this . It will average between 8 and 10 percent for the 2020 calendar year. from October 2020 to October 2021 compared to the U.S. annual gain of . SF County Unemployment Rate Dec 2019 11,300 1.90% Jan 2020 13,400 2.30% Feb 2020 13,200 2.20% Mar 2020 17,500 3.00% Apr 2020 69,400 12.60% May 2020 69,400 12.60% . San Francisco, CA Unemployment Rate is at 4.10%, compared to 5.00% last month and 9.00% last year. 0000008354 00000 n California's October 2021 Unemployment Rate Drops to 7.3 Percent . Nov 2021. Women still experience poverty at a higher Unemployment Insurance Claims (Not Seasonally Adjusted) The following data is from a sample week that includes the 19th of each month: In related data that figures into the state's unemployment rate, there were 1,889,250 people certifying for Unemployment Insurance benefits during the April 2020 sample week. California's coronavirus positivity rate fell to an all-time low of 3.1% over the past 14 days and 2.8% over the past seven days in a "very, very encouraging sign" for the state, Newsom said Monday. That compares to 1,278,220 people in November 2020 and 327,751 people in December . Total Employment in San Francisco & San Mateo Counties 8. 0000001930 00000 n "The Unemployment Rate Is Probably Around 13%." New York Times (The Upshot . Found inside â Page 32In 2020, more than a dozen of the nation's larger cities had black mayors. By that year many of the country' cities including Houston, Chicago, Dallas Atlanta, Washington, DC and San Francisco had African American mayors.
FILE - Pedestrians with and without face masks walk in downtown Omaha, Neb., Friday, July 31, 2020. h�b```�� ab��f�E��e�z�\� ��B�P��`� ��`��q+�I&E��L�3Xm��ٔ��1�18��`ʘ��e)��;��L��43ob�%*>�O�5�LG׀�� 0 V�� 0000006094 00000 n Data for the month of November is scheduled for release on December 17, 2021. Despite concerns of the Delta variant, re-opening efforts and higher vaccination rates have allowed the San Francisco unemployment rate to rebound from a high of 13.0 percent to 5.2 percent. % The coronavirus pandemic has hit the US economy hard. Owner-occupied housing unit rate, 2015-2019: 37.6%: Median value of owner-occupied housing units, 2015-2019: $1,097,800: Median selected monthly owner costs -with a mortgage, 2015-2019: $3,647: Median selected monthly owner costs -without a mortgage, 2015-2019: $704: Median gross rent, 2015-2019: $1,895: Building permits, 2020: 2,004: Families . You can also compare San Francisco unemployment with unemployment in other cities. San Francisco Area Economic Summary. 7. IMPORTANT NOTE: The employment data for the month of October 2021 is taken from the survey week including October 12. Get data on a variety of issues pertaining to York and the rest of York County, Pennsylvania. 247 0 obj <> endobj This is lower than the long term average of 5.93%. Since 2005 the unemployment rate in San-Francisco, California has ranged from 1.9% in May 2019 to 12.8% in May 2020. ↩. Our analyses rely on historical patterns of monthly ﬂows in 0000087787 00000 n ECONOMIC INDICATORS. Walters: California's high unemployment rate may be too low . Changing Compensation Costs in the San Jose Metropolitan Area - September 2021. (San Francisco and San Mateo Counties) The unemployment rate in the San Francisco-Redwood City-South San Francisco MD was 4.0 percent in September 2021, down from a revised 4.8 percent in August 2021, and below the year-ago estimate of 8.4 percent. Unemployment Rate - San Francisco-Redwood City-South San Francisco, CA Metropolitan Division (November 2020) Found inside â Page 406Vulnerable populations in the United States. San Francisco: Jossey-Bass. U.S. Bureau of Labor Statistics. (2009). Current unemployment rates for states and historical highs/lows. [Online]. For the same month, the metro unemployment rate was 2.1 percentage points lower than the California rate.

Found inside â Page 2472 380 33 8.5 2,020 63 3.1 1 , 130 61 5.4 250 36 14. 3 1,320 71 5.4 1,060 49 4.6 260 22 8.6 2,870 ... Unemployment rate .. San Francisco - Oakland : Civilian labor force . Unemployed .. Unemployment rate . Boston : Civilian labor force . 0000106088 00000 n In 2018, the unemployment rate for Black residents was . California as a whole had an unemployment rate of 8.2% . Found insideTotal employment estimates were based on civilian labor force participation rates of the National Planning ... Yolo and San Joaquin are projected to grow from four to seventeen times their present size by 2020 as a result of land ... SAN FRANCISCO (KPIX) — With businesses being forced to shut down amid COVID shelter orders across the state, unemployment . Found inside â Page 3-34According to the PTMP , the projected employment in the Presidio is expected to be 6,890 by 2020 . ... residents in the Bay Area was about 3,605,675 , and total employed residents in San Francisco were 444,851 ( ABAG , June 2003 ) .
D V�� 4 Meanwhile, hospitalizations and intensive-care . San Diego County's unemployment rate barely budged in May at 15 percent as employers added 18,200 jobs amid a gradual reopening of businesses across the county. That reflected significant improvement from August 2020, when the unemployment rate stood at 9 . Found insideMartin Ford, âYour Job in 2020,â Forbes, April 8, 2010, ... Bharat Trehan, âProductivity Shocks and the Unemployment Rate,â Federal Reserve Bank of San Francisco Economic Review (2003): 13â27, ... 31.09%. V� "w�ū��@��!&FF_�i�$�� Based on employment data through the second week of May, the estimated number of San Francisco residents with a paycheck has dropped by over 92,000 over the past three months to 481,500, while the labor force has shrunk by over 36,000 to 550,900, for an unemployment rate of 12.6 percent. endstream endobj 248 0 obj <. Found insideIn Las Vegas, taxi ridership fell by 97% from February 2020 to April 2020 (Akers, 2020). In San Diego, the number of taxi drivers who quit rose faster than the average unemployment rate (Lewis, 2020). Needless to say, adequate cleaning ... Poverty rates also vary by race and ethnicity; most notably, Black and African American residents experience poverty at nearly three times the average rate. View More Statistics from American Community Survey View More Statistics from American Community Survey 0000009974 00000 n endstream endobj startxref Found inside â Page 28The South Coastal and San Francisco Bay subregions , which now have 88 percent of SIC 26 employment , will account for the same percentage of the total paper and allied products employment in 2020 ( Table 18 ) . " And ( p . The current unemployment rate for San-Francisco is 5.4% in June 2021. Found inside â Page 99Employment Act of 1946 (P.L. 79-304); Full Employment and Balanced Growth Act of 1978 (P.L. 95-253). 23. ... San Francisco, CA: Author. ... 2020, from https://fortune.com/2020/04/23 /us-unemployment-rate-numbers-claims-this-week-total ... Found inside â Page 3-78Many residents commute to jobs in the San Francisco and Sacramento areas . Agricultural Employment . California continues to be the nation's leading agricultural producer and exporter of agricultural commodities . Found inside â Page 428âNational Living Wage and National Minimum Wage Rates,â Government of the UK, April 2020, https://www.gov ... National Employment Law Project, July 2011, http://tinyurl.com/ op6sbdh; Mark Oswald, âMinimum Wage in SF Set to Rise 1.3%,â ... Nevada and California had the highest unemployment rate in September at 7.5% each, followed by New York and New Jersey at 7.1% each. This book discusses wide topics related to current issues in economic growth and development, international trade, macroeconomic and financial stability, inflation, monetary policy, banking, productivity, agriculture and food security. Found inside â Page 190Other than the San Diego MSA , these border MSAs had higher unemployment rates than the nation over this period ... non - border MSAs in the same states ( specifically Dallas and Houston in Texas , and Los Angeles and San Francisco in ... Found inside â Page 56Generality and Predictability in Monetary Institutions Peter J. Boettke, Alexander William Salter, ... What Is the New Normal Unemployment Rate? Federal Reserve Bank of San Francisco Economic Letter, 2011-05 (February 14). While job postings nationally were 19.2% higher than before the pandemic, in California they were just 2% higher, according to Michael Bernick, a former director of the California Employment Development Department who is now a lawyer with the Duane Morris firm. 1. %%EOF Found inside â Page 117(2020b). Economic News Release USDL-20-0108. Union members â 2019. ... (2020c). Unemployment rate 2.0 percent for college grads, 3.8 percent for high school grads in January 2020. ... San Francisco, CA: Jossey-Bass Publishers. San Francisco metro area, first quarter 2021 (U.S. = $1,289; Area = $2,627) Source: U.S. BLS, Quarterly Census of Employment and Wages. We explorepotential paths for the ofﬁcial unemployment rate through 2021. �=?g Found inside â Page 160By 2020 , the Manufacturing sector is projected to fall to 14.5 percent of total employment . performance computing ... San Francisco According to estimates from ABAG , total 2000 employment in the Bay Area exceeded 3.6 million jobs . 0000002460 00000 n 0000012048 00000 n H��WKs�8��W�h�Դ(Q��t&N�w�L��l��8�Ǐf��J��H�B[$��(;��6��|��7o��M>��d�~ F��_��H��a��R�ā�y��m��>��X� 㯫|:/�ͼ*�� I�W�@6�C�:��>��8P��OT 0000004612 00000 n - San Francisco Business Times .