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The San Francisco Economy

Household and Small Business Financial Outcomes

San Francisco Economy report cover

While the overall economy in San Francisco is strong, there is significant variation in household and small business financial outcomes. To better understand the financial lives of U.S. households and small businesses, the JPMorgan Chase Institute explored questions of economic relevance through the lens of de-identified transaction and account summary data from over 70 million consumers and 2.5 million small businesses. These data allowed us to provide localized insights on the San Francisco economy, including trends in out-of-pocket healthcare spending, Online Platform Economy participation and revenues, local commerce, and small business financial outcomes.

Read the Insight  “San Francisco Economy”

The Small Business Sector in Urban America: Growth and Vitality in 25 Cities

This study, which follows up on JPMorgan Chase Institute 2018 report on small business growth, vitality, and cash flows, focuses on differences in small business financial performance across 25 US cities. Leveraging high-frequency, de-identified financial data from a sample of 290,000 small operating businesses, this report aims to inform differences in financial outcomes in the small business sector across some of the largest cities in the US, providing a lens into the composition and contributions of different types of firms to the aggregate revenue growth and exit rates of the small business sector.

View the Report Small Business Financial Outcomes in Cities

The Online Platform Economy in 27 Metro Areas

JPMorgan Chase Conference Panel

A significant and growing fraction of families generate income through the Online Platform Economy. Prior JPMorgan Chase Institute research tracking supply-side participation and revenues in the Online Platform Economy observed strong secular trends in two sectors: transportation and leasing. Participation on transportation platforms increased by more than a factor of 20, while average monthly revenues declined by half. Participation on leasing platforms tripled, while average monthly revenue doubled. In this follow-up research, we use geographic and temporal variation to explore these dynamics in more detail.

Read the Report  “The Online Platform Economy in 27 Metro Areas”


Tax Time: How Families Manage Tax Refunds and Payments

Swiss Franc

In previous JPMorgan Chase Institute research, we reported that out-of-pocket spending on healthcare services jumps by 60 percent in the week a tax refund is received and remains elevated for 75 days. This report builds on that research, investigating more comprehensively how families manage the positive cash flow from tax refunds and negative cash flow from tax payments. We analyze daily financial flows and balances for one million families who receive tax refunds or make tax payments, and find that tax reconciliation has a significant and long-lasting impact on spending and saving patterns of some, but not all of them.

Read the Report about the hedge fund trading in EUR/CHF during the Minimum Exchange Rate policy period.

Gender, Age, and Small Business Financial Outcomes

JPMorgan Chase Conference Panel

Leveraging high-frequency transaction data from a sample of 1.3 million small operating businesses, this new research from the JPMorgan Chase Institute focuses on small business financial performance, with specific emphasis on differences in outcomes by owner age and gender. Our unique data illustrates the wide diversity among small business owners, providing insights into small business financial health and performance, including survival, cash liquidity, revenues, and revenue growth.

Read the Report  “JPMorgan Chase Institute 2018 Inaugural Conference on Economic Research”

Spotlight: Profiles of Local Consumer Commerce

It’s time to use hard data and smart insights to address the complex problems that affect us all.

That’s why we established the JPMorgan Chase Institute.

The JPMorgan Chase Institute aims to help decision makers – policymakers, businesses, and nonprofit leaders – appreciate the scale, granularity, diversity, and interconnectedness of the global economic system and use better facts, timely data and thoughtful analysis to make smarter decisions to advance global prosperity.

Learn more about the JPMorgan Chase Institute