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The spate of store closures near Union Square, a tourist destination and the heart of San Francisco's shopping core, has concerned business leaders and economists alike.
Economists and budget officials say the discrepancy is due to the fact that San Francisco and Oakland rely heavily on tax revenues that are still sluggishly recovering from the pandemic's economic punch whereas San Jose has come away generally unscathed by leaning on a tax base that's largely weathered the financial forces at play.
The Bay Area tech sector has begun to shed jobs in a big way after years of a dramatic post-coronavirus hiring boom, an ominous turn for an industry that for decades has been the primary engine of the region's economy.