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Inside EDC

May 22, 2015

Manpower_Monthly

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“San Diego’s unemployment rate is the lowest in nearly eight years as tens of thousands of San Diegans are finding jobs thanks to steady economic growth. We are seeing fewer unemployment claims as thousands return to the labor force.”

Phil Blair, President and CEO
Manpower San Diego


Highlights image

This post is part of an ongoing monthly series dedicated to the California Employment Development Department (EDD) monthly employment release and is brought to you by Manpower. Click images to enlarge in a new tab/window.

The California Employment Development Department (EDD) released statewide county employment data today for the April 2015 period. This month’s data shows that unemployment continued to fall in April, as the economy continued to grow at a steady rate.

The unemployment rate fell below 5 percent for the first time since December 2007 and it is the lowest it has been since June 2007. At 4.8 percent, the rate is 1.3 points lower than the previous year and 0.3 points lower than the previous month. The U.S. and California average rates also fell substantially to 5.1 percent and 6.1 percent respectively.

UE_04_15

Unemployment fell so sharply from March to April because the labor force fell by 3,200 and unemployment claims fell by 4,900. While it is concerning that the labor force fell over the monthly period, it isn’t uncommon for the period due to seasonal forces. More importantly, the labor force increased by 17,400 and unemployment claims decreased by 18,900 from April 2014 to April 2015.

When looking at monthly or seasonal employment, San Diego County employers added 4,900 jobs from March to April. Goods-producers like construction and manufacturing experienced slight seasonal decline, while tourism and health care accounted for nearly all of the seasonal growth.

From a year-to-year or non-seasonal perspective, NFE_04_15 the region’s economy continued to grow around 3.0 percent, adding 38,300 jobs from April 2014 to April 2015. The year-to-year growth rate has been consistently above the 2014 annual average of 2.2 percent. So far in 2015, that annual average is at 3.1 through April.

The private sector economy accounted for 93.6 percent of the year-to-year job growth and grew by 3.4 percent. This rate also outpaced the U.S. growth rate, which was 2.6 percent over that same period. This job growth continued to be fueled by key sectors. Construction grew by 5.3 percent and added 3,300 jobs, despite a mild seasonal decline. One of the region’s key manufacturing sectors ship and boat building grew by 18.6 percent and added 1,100 jobs. However, manufacturing growth continued to grow at a slow pace of 1.8 percent, which remains a concern given the importance of the industry to the region’s economy.

Innovation service sectors have continued to show high job growth through 2015. The professional, scientific and technical services (PST) sector grew by 6.39 percent year-to-year, PST_04_15and accounted for approximately one-fifth of the annual job growth. This sector represents many of our innovation employers. More specifically, scientific research and development services, a subsector of PST that represents many cleantech and life science companies, grew by 5.26 percent since last March.

The region’s tourism continued to show high year-to-year growth as well. The leisure and hospitality industry added 6,500 jobs over that period, which is about 3.72 percent growth. Food service and drinking places accounted for 6,500 of those jobs. Health care services experienced high seasonal and non-seasonal growth. Education & Health services added 400 jobs from March to April and 5,900 jobs since the previous year.

YoY_04_15

The April labor market report continued to show positive indicators about the health of our regional economy. The unemployment rate fell below five percent for the first time since 2007. There remains concern about the slow return of the labor force from year-to-year since the recession, but unemployment claims are consistently falling and firms are steadily adding jobs. Growth remains concentrated in our traded economy sectors and in middle-wage industries like health care and construction. It will be interesting to see if this steady growth encourages greater labor force participation in the coming months.

Note: Our Economic Indicators Dashboard will show how our unemployment rate compares to other US metros and the US total rate when that information is released in the coming weeks.


 

May 21, 2015

It's no coincidence that a region such as San Diego, with some of the best weather in the country, is also one of the most fit regions in the country.

San Diego ranked third in the 'fittest cities' category in the American Fitness Index released Tuesday. The index is released by the American College of Sports Medicine and the Anthem Foundation.

Since 2009, the region has increased its ranking on this list considerably; in 2012, San Diego found itself on the 12th spot in the annual ranking. Improvements in areas such as "per capita farmers markets" and "percent of residents with asthma" have led to 2015's number three ranking.

An active region doesn't just impact the health of its citizens, but also, the health of its economy. San Diego's weather, innovative sprit and fit lifestyle have spawned a strong sports & active lifestyle industry - the second largest in the US according to a study EDC and partners released in October 2013.

For report methodology, click here...

For a breakdown of San Diego indicators, click here...

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May 13, 2015

Duane Roth Renaissance Award

San Diego Regional Economic Development Corporation is pleased to announce the 2015 recipient of the Duane Roth Renaissance Award. This award celebrates the memory of a beloved community leader who tirelessly championed our innovation eco-system and reframed how we view our region’s economic diversity.   This award is presented to an organization for creating outstanding inventions, innovations or breakthroughs that have changed and improved the world around us. 

We are honored to announce ViaSat. as the 2015 Honoree of the Duane Roth Renaissance Award.

ViaSat specializes in engineering creative ways to connect people to communications applications that improve their productivity, quality of life – and even safety – when terrestrial networks are not practical, cost effective, or able to provide high-quality service. ViaSat is one of our region’s premier companies headquartered in Carlsbad employing more than 3,300 employees. In addition to providing the world’s highest capacity satellite, ViaSat is very involved in the community giving their time, talent and treasure to numerous non-profits in our community. ViaSat is a leader both in their technology and community service.


Please join us on June 4, 2015 as we celebrate ViaSat Inc. and their incredible achievements in connecting the world with better communications technology!


Register Today!

The 2015 Duane Roth Renaissance Award is generously sponsored by


#EDCturns50

May 8, 2015

Recently, EDC released its March Manpower Monthly Employment Report. Since then, the U.S. Bureau of Labor Statistics has released March employment data on all U.S. metros, which allows us to analyze some key indicators across geographies. Click on images to enlarge in a new window/tab.

HIGHLIGHTS

  • At 5.1 percent, San Diego’s unemployment rate ranked 11th among the 25 most populous U.S. metros.
  • From March 2014 to March 2015, San Diego's unemployment rate fell by -2.0 percentage points, which ranked 3rd.
  • San Diego's total employment grew by 3.1 percent from March 2014 to March 2015, which ranked 10th.
  • San Diego's employment in professional, scientific and technical services (PST) grew by 7.2 percentwhich ranked 3rd.
  • Manufacturing in San Diego grew by 1.5 percent from the previous year, the 9th highest growth rate.

[Unmployment Chart]

The Bureau of Labor Statistics (BLS) recently released employment data for the March 2015 period for all U.S. metro areas. At 5.1 percent, San Diego County’s unemployment rate fell by 2.0 points from this time last year. This was the 3rd largest drop in the nation, among the 25 most populous U.S. metros. That fall brought San Diego's rank to 11th among major U.S. metros and placed it below the U.S. overall rate of 5.6 percent.  

[Employment Chart]

When looking at employment growth, San Diego was above the national average. From March 2014 to March 2015, the region's employment grew by 3.1 percent, which ranked 10th among the 25 most populous U.S. metros. The U.S. average growth rate was at only 2.3 percent. San Diego has consistently outpaced U.S. employment growth this year and has been among the top 10 competitive metros in the nation.

[PST Chart]

San Diego's innovation economy is largely driving the region's growth. The region is outpacing nearly all other major metros in professional, scientific and technical services (PST) growth. PST is a sector of the economy very heavily associated with the region's innovation clusters. Much of the companies and employment in clusters like biotechnology, biomedical products, cleantech and information technology fall within the PST sector. Employment in the region's PST sector grew by 7.2 percent since last March, the 3rd most out of any metro studied here. This figure was roughly double the U.S. average and only behind California peers San Francisco and Riverside, which is a positive sign for the state and region's key traded clusters.

[MFG Chart]

San Diego's manufacturing sector growth has slowed in recent months. Manufacturing is another key industry for growth in the region, not only because manufacturing jobs are accessible and pay well, but also because certain manufacturing subsectors are critical to the region's innovation clusters. From March 2014 to March 2015, manufacturing employment grew by only 1.5 percent. San Diego's manufacturing employment growth was just below the U.S. rate of 1.6 percent. The region recorded the 9th highest growth rate among major U.S. metros. Clearly, manufacturing has slowed in most major metros across the U.S. outside of Detroit, Denver and Portland, so this is not a sign unique to San Diego. However, it will remain important to track manufacturing in the coming months to see if growth accelerates.

While overall employment growth and growth in our manufacturing sector weren't comparatively stellar, the region's economy is still generally tracking well above the U.S. average and many of its peers. Unemployment is lower than average and experienced one of the largest annual drops in the nation. Meanwhile, our PST industry continues to be among the fastest growing in the nation.

EDC will be releasing the Manpower Employment Report with April 2015 data for San Diego on Friday, May 15thThank you to Manpower-SD for their ongoing support of EDC's employment trends research.

May 7, 2015

Ebsta Offices in London

App integrator Ebsta knows a thing or two about building relationships; it’s what they do. Much like its CRM technologies enable businesses to take a holistic, multi-faceted look at their customer base,  Ebsta has made a concerted decision to choose San Diego over other regions such as Silicon Valley for a myriad of reasons. Headquartered in London, Ebsta commands a presence of more than 30,000 users and over 7,000 companies drive Salesforce adoption with its products, including Amazon, Evernote, and Lenovo.

While in London this past week, members from the San Diego delegation visited with Ebsta, and many other companies with strong San Diego ties, in order to learn about how San Diego can support its international success. The demand for its product is growing fast, and as Ebsta looks to add to its 15 person team, they have made it clear that they are looking to do so stateside – potentially running the entire commercial business out of San Diego.

So why did Ebsta choose San Diego to expand its operations in the first place? The answer involves more than just sunshine. “Smart startups are always ahead of the curve. San Diego is where it’s going to happen next,” said Bernhard Peters, vice president of sales, who moved from London to start the San Diego office. “Not only is the talent pool here immense, but we felt that in San Diego, we would be more than just a number.”

Beyond the region’s depth of talent resources, British Airways’ direct flight to London has allowed Ebsta to seamlessly run operations on two separate continents.  Additionally, while many companies would view the time difference as an operational red flag, particularly for a small company, Peters doesn’t quite see it that way.

England based companies jobsThe SMEs that thrive are the ones that adopt a global mindset. Not only do our two locations allow us to increase our operational hours, but they give us increased market entry points and access to potential capital,said Peters.

Ebsta’s investment in San Diego provides a prevailing example of how foreign direct investment (FDI) can benefit cities and regions. These companies invest more in innovation, making them a magnet for capital. While FDI is responsible for 5 percent of employment in the San Diego region, it accounts for nearly 19 percent  of corporate R&D and 15 percent of capital investment.  

As the second largest investors in San Diego, London plays a key role in our region’s long-term economic strategy.  London-based companies and investments are responsible for more than 5,900 jobs in our region. Along with Ebsta, some other London-based companies with operations in San Diego include BAE Systems, Cobham, GlaxoSmithKline and Mirum.

Despite the pressure on new tech startups to invest in legacy tech hubs, Ebsta knows the proof is in the pudding; San Diego offers an innovative, vibrant atmosphere that few other places can match.

It’s safe to say, our investment in San Diego is paying off.
#GlobalSD
 

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May 7, 2015

Herb Klein Civic Leadership Award

San Diego Regional Economic Development Corporation is pleased to announce Gary and Mary West as the 2015 Honorees of the Herb Klein Civic Leadership Award. EDC honors individuals who have demonstrated outstanding leadership in addressing challenges and making significant contributions to improving San Diego.

2015 Honorees Gary and Mary West

Gary and Mary West are two of the most generous philanthropists and entrepreneurs in our region. The Wests have called San Diego their home since 2006 and have created and funded some of the most innovative charitable causes in our community. Gary and Mary’s greatest passions are improving care for our nation’s seniors and transforming healthcare delivery for all Americans, and they have committed tremendous resources to those causes locally.

In 2006, they established the Gary and Mary West Foundation, the second largest private foundation in San Diego. Through their philanthropy, the Wests have had a positive impact on disadvantaged seniors through organizations like Serving Seniors and their flagship Gary and Mary West Senior Wellness Center, which is now hailed as an international model for successful aging. The new facility brings more than 20 non-profit organizations under one roof to provide critical social services to nearly 600 seniors a day in Downtown San Diego. Gary and Mary also actively support organizations such as Meals-on-Wheels Greater San Diego, Legal Aid Society of San Diego, Canine Companions for Independence, the Challenge Center, the San Diego Public Library Foundation, Paws’itive Teams, Access to Independence and the San Diego Police Foundation.

Their dedication to lowering the cost of healthcare led to the 2009 formation of what is now known as the West Health Institute. It’s an independent, nonprofit medical research organization pioneering new and smarter technologies, policies and practices to make high-quality healthcare more affordable.  Knowing technology alone could not address the spending crisis in healthcare, they launched the non-partisan, Washington, D.C.-based West Health Policy Center in 2012 to help shape federal policy and regulations.

Gary and Mary’s most recent effort to reimagine healthcare delivery resulted in the Foundation launching the Center for Medical Interoperability, a non-profit organization dedicated to improving communications in our nation’s hospitals and healthcare systems for better safety, quality and affordability.

Throughout their careers, Gary and Mary have been dedicated to providing good jobs so that others may live the American Dream, and we are incredibly fortunate they have chosen to bring their entrepreneurial spirit and generous philanthropy to our region.

Please join us on June 4, 2015 as we celebrate Gary and Mary West and their extraordinary contributions to San Diego.

The 2015 Herb Klein Civic Leadership award is generously sponsored by:

April 17, 2015

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"San Diego's labor market has really hit its stride. The unemployment rate is at a seven year low and two full percentage points lower than a year ago. More than 30,000 people who were unemployed have found employment in the past year, and the labor force continues to grow. Job growth has been led by key middle-to-high-wage industries like construction, health care, education, manufacturing and scientific services. These are great signs as we move ahead in 2015."
Phil Blair, President and CEO
Manpower San Diego


[Highlights]

This post is part of an ongoing monthly series dedicated to the California Employment Development Department (EDD) monthly employment release and is brought to you by Manpower. Click images to enlarge in a new tab/window.

The California Employment Development Department (EDD) released statewide county employment data today for the March 2015 period. This month’s data shows that unemployment was down again in March as the economy continued to grow at an increasingly solid pace.

The unemployment rate is likely the big story again this month since at 5.1 percent, it is the lowest it has been in nearly seven years (April 2008). This is 2.0 points lower than the previous year and 0.2 points lower than the previous month. San Diego’s unemployment rate remained below the U.S. average of 5.6 percent and well-below the California average of 6.5 percent. The region also experienced labor force growth. More than 3,000 people were added to the region's labor force from March 2014 to March 2015, indicating that the continued drop in unemployment is likely due to a healthy economy rather than a dwindling labor force.

[Unemployment Chart]

When looking at monthly or seasonal employment, San Diego County employers added 8,000 jobs from February to March. Construction accounted for a quarter of this monthly growth, adding 1,500 jobs from February to March. Tourism , health care and private education industries also experienced high seasonal growth, while retail and wholesale trade experienced slight seasonal declines.

From a year-to-year or non-seasonal perspective, the region’s economy is showing signs of picking up the pace. Total non-farm employment grew by 40,900 jobs from March 2014 to March 2015­—a 3.1 percent growth rate. This exceeds the U.S. growth rate of 2.3 percent. In all three months to date in 2015, the region recorded annual job growth of more than three percent, compared to 2014 when not a single month exceeded three percent annual growth.

[Employment Chart]

The private sector economy accounted for 92 percent of the year-to-year job growth and grew by 3.4 percent. This rate also outpaced the U.S. growth rate, which was 2.7 percent over that same period. This job growth continued to be fueled by key sectors. Construction jobs grew by 7.4 percent and added 4,600 jobs. One of the region’s key manufacturing sectors ship and boat building grew by 18.7 percent and added 1,100 jobs. 

Innovation service sectors also continued to show high job growth. The professional, scientific and technical services (PST) sector grew by 7.2 percent year-to-year, and accounted for approximately a quarter of the job growth. This sector represents many of our innovation employers. More specifically, scientific research and development services, a subsector of PST that represents many cleantech and life science companies, grew by 8.4 percent since last March.

[PST Chart]

The region’s tourism continued to show high year-to-year growth as well. The leisure and hospitality industry added 7,300 jobs over that period, which is about 4.3 percent growth. Food service and drinking places accounted for 7,000 of those jobs. Private and public education services experienced high seasonal and non-seasonal growth. Education services added 1,400 year-to-year jobs (4.5 percent growth) while state and local government education added 2,500 year-to-year jobs (3.0 percent growth).

The March labor market report was all around positive. Low unemployment, high job growth and a growing labor force are all excellent signs of burgeoning regional economy. More importantly, this growth continues to be driven by key sectors to the region's economy. Continued rapid growth in construction indicates that regional builders are constructing important infrastructure to address a growing economy. Furthermore, the region's key high-wage and innovative sectors are driving private sector growth. The region is far outpacing the state and nation in these important metrics, all good signs for the year ahead.

[Growth Chart]





Note: Our Economic Indicators Dashboard will show how our unemployment rate compares to other US metros and the US total rate when that information is released in the coming weeks.

April 16, 2015

This post is part of an ongoing series dedicated to EDC’s 50th Anniversary. Please follow along at #EDCTurns50.

Along came the 1970s. Former Mayor Frank Curran and EDC's first CEO Dallas Clark saw their vision of a diversified San Diego economy come to fruition under the aegis of then CEO Richard "Dick" Davis.

San Diego (and EDC) were in good hands, as Malin Burnham stepped up to chair EDC in 1972 and Pete Wilson took over as Mayor.

We combed through the archives- here are a few of our favorite below:

Our innovation economy was beginning to take shape
New business is flowing to the region. From Sony, to the Wickes Corporation to Beckman Instruments, San Diego was booming in many industries, including the emerging field of “health sciences electronics.” We now know this industry as medical devices.

(Correctly) Predicting our future
At the same time, UC San Diego was beginning to establish itself as the research based institute that it is today. In 1971, National Science Foundation Director William McElroy became chancellor of UC San Diego, attracting world-class faculty. An article in the San Diego Union  from 1974 asks UC San Diego researchers to predict what San Diego would be like in the year 2000. Professor William Neirenberg got it right, “between 1974 and the year 2000, San Diego will become one of the top three or four research and development areas in the world…

Shipbuilding diversifies to include oil tankers and ferries

Kearny Mesa booms along Convoy St.


The close of the decade saw the birth of two iconic downtown San Diego landmarks: our beloved Convention Center and the idyllic Seaport Village.
From an edc newsletter



Telling the world our story
As the economy diversified, EDC began to share San Diego’s story with the world.

An advertisement in Businessweek (late 1970s- early 1980s)

Advertisement, unknown publication, 1976

We’ll be celebrating all through 2015, but we’ll be paying homage to our past – as well as celebrating our future – at EDC’s 50th annual dinner event on June 4, 2015, at SeaWorld San Diego.  Until then, join us here online every month as recount our top moments, starting with the decades that have defined us.

March 20, 2015

Strong Workforce TownhallA businessman, an educator and a politician walk into a room.

There’s no punchline here. In many other regions – that don’t count collaboration as a strength – this may be the beginning of a counterproductive encounter. In San Diego, this is how we find solutions. At the Strong Workforce Town Hall held at Illumina on Wednesday, business people, educators, economic and workforce development professionals, and politicians gathered to address how the region will close the impending skills gap.

California Community Colleges play a vital role in preparing workers for jobs and strengthening the economy. Wednesday’s conversation was part of a series of ‘town hall’ style meetings held throughout the state to help California’s dynamic community college system close the skills gap.

The facts are alarming: by 2020, there will be 6.3 million job openings in the state of California. If we want to remain a center for innovation, we must have the workforce to get us there.

So how do you prepare the 2.1 million students in California for tomorrow’s workforce?

Strong Workforce Townhall

 

Sunny Cooke, president of Mira Costa College and chair of the State’s Strong Workforce Task Force, said we must rethink the three fundamental ‘R’s:

  1. Relationships: Perhaps the most crucial component, the community colleges must develop stronger relationships with employers.  Rick Urban, COO at Quality Control Manufacturing in Santee, said that his business depends on having, strong, skilled workers. With the help of East County EDC and coordination with community colleges, he was able to develop a pipeline to recruit and train technical talent.

    Up in Oceanside, Genentech seeks to work with the community colleges to find the medical device manufacturing and R&D talent it needs to succeed. "We need an agile and flexible workforce,” said Adria Harris, an HR representative at the company. The good news is lawmakers are already beginning to adapt. A pilot program will give community colleges throughout the state the opportunity to begin offering bachelor’s degrees in select programs next year. Based on workforce needs, Mira Costa College was recently approved to begin offering bachelor’s degrees in bio-manufacturing.
     
  1. Resources: Financial resources are always going to be an issue. As a state (and region), we must get creative with how we fund these crucial job training programs. It’s not only about identifying new resources, but also figuring out how to redirect resources that make sense for industries – such as maritime and biotech – that have a strong presence in the region.
     
  1. Re-thinking the Rules: As a state-run agency, bureaucracy will always be a part of the community college system. However, Cooke encouraged administrators and policy makers to think creatively about these regulations.

San Diego’s  – and California’s – leaders must work in earnest to find, develop, and enhance our workforce pipeline. As California Community Colleges Chancellor Brice Harris says, “our global competitiveness depends on it.”

All pictures are courtesy of the San Diego Workforce Partnership

March 20, 2015

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"The San Diego regional economy continues to hum along at a steady pace. The unemployment rate is the lowest it has been in nearly seven years while we continue to add good jobs in our innovation and building industries each year. There are plenty of reasons to remain optimistic about 2015."
Phil Blair, President and CEO
Manpower San Diego


[Highlights]

This post is part of an ongoing monthly series dedicated to the California Employment Development Department (EDD) monthly employment release and is brought to you by Manpower. Click images to enlarge in a new tab/window.

The California Employment Development Department (EDD) released statewide county employment data today for the February 2015 period. This month’s data shows that unemployment was down in February as the economy continued to grow at a steady pace.

The unemployment rate is likely the big story this month since at 5.3 percent, it is the lowest it has been in nearly seven years (April 2008). This is roughly 1.8 points lower than the previous year and 0.5 points lower than the previous month. San Diego’s unemployment rate remained below the U.S. average of 5.8 percent and well-below the California average of 7.1 percent.

[Unemployment Chart]

When looking at monthly or seasonal employment, San Diego County employers added 6,200 jobs from January to February. Much of this growth came from the government sector, mostly from state and local education. Tourism and private education industries also experienced seasonal growth, while retail trade and construction experienced slight seasonal declines.

From an year-to-year or non-seasonal perspective, the region’s economy continued its steady post-recession growth. Total non-farm employment grew by 39,700 jobs from February 2014 to February 2015­—a 3.0 percent growth rate. This exceeds the U.S. growth rate of 2.4 percent.

[Employment Chart]

The private sector economy accounted for 90 percent of the year-to-year job growth and grew by 3.3 percent. This rate also outpaced the U.S. growth rate, which was 2.8 percent over that same period.

Year-to-year job growth continued to be fueled by key sectors. Construction jobs grew by 5.2 percent and added 3,200 jobs, despite the small 400 job seasonal decline. Manufacturing growth has slowed since 2014, and recent EDD adjustments indicate that growth was lower than previously thought. However, one of the region’s key manufacturing sectors ship and boat building grew by more than 15 percent.

[PST Chart]

Innovation service sectors also continued to show high job growth. The professional, scientific and technical services (PST) sector grew by 6.4 percent year-to-year. This sector represents many of our innovation employers. More specifically, scientific research and development services, a subsector of PST that represents many cleantech and life science companies, grew by 7.7 percent since last February. Professional and business services overall accounted for one quarter of all year-to-year private job growth.

The region’s tourism sector was one of the few seasonal growth industries and also experienced high year-to-year growth. The leisure and hospitality industry added 8,200 jobs over that period, which is about 4.9 percent growth. Food service and drinking places accounted for most of the growth. Private and public education services experienced high seasonal and non-seasonal growth. Colleges, universities and professional schools added 1,300 year-to-year jobs (9.3 percent growth) while state and local government education added 3,200 year-to-year jobs (3.0 percent growth).

[Growth Chart]

EDD released adjustments to 2014 data earlier this month. Those adjustments indicate that 2014 growth wasn’t quite as high as expected, with annual job growth from ranging from 2.2 to 2.4 percent throughout 2014. Therefore, while some of the growth figures for February 2015 in this report appear lower than the growth rates shown in previous monthly reports, the region's economy is actually growing faster than it was throughout 2014. Unemployment is the lowest it has been in nearly seven years and employment growth has consistently outpaced the national average. This is a positive sign as the region continues to steadily grow post-recession.

Note: Our Economic Indicators Dashboard will show how our unemployment rate compares to other US metros and the US total rate when that information is released in the coming weeks.