Much has been written about a great migration out of San Francisco. The population shrank by 1.4% between July 2019 to July 2020, but like most moves during the COVID-19 pandemic, they were within the same metro area. As the economy recovers, San Francisco and San Mateo counties added 17,200 jobs.
Links to this note
San Francisco Mayor London Breed said that workers are not returning to the office which has resulted a loss of $400MM in tax revenue. Some of the reasons for this is fewer people in the city (while not an exodus, the office vacancy rate is more than 24%) but I suspect this is also due companies moving out of SF for tax reasons (Stripe moved to Oyster Point).
During the early part of the pandemic (July 2020 to July 2021), the population of SF fell 6.3%—the biggest population decrease in the US. Given the number of tech workers in SF, this could represent a significant redistribution of tech talent to other geographic areas.