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The Big Picture San Diego Blog


Research Q2 18

June 21, 2018

In the past two decades, San Diego County Water Authority has invested more than $2.4 billion in five major water reliability projects. A new study released by EDC in partnership with the San Diego County Water Authority, quantifies the impact these investments have on our broader economy. These projects have generated $4.8 billion in total economic impact, supporting an average of 1,475 jobs annually over two decades and creating more than $1.8 billion in local wages and salaries.

The report also found that access to safe and reliable water supplies supports $482 million in total regional sales of goods and services daily – equivalent to the economic impact of nearly three Comic-Cons every day.

In addition, the report shows that more than 2,800 people work in the water and wastewater sectors at the Water Authority and its 24 member agencies. The water industry provides career opportunities across all levels of educational attainment, in everything from customer service to engineering. 

SDCWA has kicked off the "Brought to you by water" campaign to share the impact of water across multiple industries. 

 We all know that water is essential for the viability of our communities, but we often take that for granted and that is a luxury,” said Janice Brown, chair of the EDC’s Board of Directors.  “Without the infrastructure: pipelines, dams, treatment plants - we would not have reliable water. Reliable water makes us economically competitive."  

You can find the full study here: http://www.sandiegobusiness.org/sites/default/files/Water%20Study%202018.compressed.pdf
 
If interested in an economic impact analysis of your company or project, get in touch with EDC's research team

 

June 15, 2018

Each month the California Employment Development Department (EDD) releases industry data for the prior month. This edition of San Diego’s Economic Pulse covers May 2018 data, including unemployment, new business establishments, and job postings.

Highlights include:

  • The region’s unemployment rate was 2.9 percent in May, unchanged from April’s revised rate, and 0.8 percentage points lower than a year ago – the lowest since January 2000.
  • The majority of jurisdictions saw a decrease in unemployment rate from the month prior. Only National City saw its unemployment rate rise, an increase of 0.1 percentage points to 4.0 percent.
  • The labor force grew slightly, adding 900 workers during the month, up 0.1 percent. The labor force is now up 4,300 compared to a year ago, or 0.3 percent.
  • The largest increases came from leisure and hospitality, which added 2,100 jobs. Education and health services saw the only employment declines of any industry group, contracting by 300 jobs.


Read the Economic Pulse here.

May 29, 2018

Due to regularly occurring seasonal effects, San Diego, and the overwhelming majority of the most populous metros, experienced a decline in employment during Q1 2018 (January - March). Leaving the holiday season behind, the region’s total nonfarm employment declined 7,300, or 0.5 percent. Compared to a year ago, nonfarm employment was up 27,000, or 1.9 percent.

Meanwhile, San Diego’s unemployment rate was 3.2 percent in Q1, the lowest the region has seen in the last 17 years and down from 3.3 percent in Q4 2017.
 

More key findings from the Q1 Economic Snapshot:

  • San Diego closed Q1 with an unemployment rate of 3.2 percent and the third lowest among the 25 most populous metros, up four spots from the previous quarter. 
  • Following an addition of 9,500 jobs in Q4 2017, the trade, transportation, and utilities supersector decreased by 11,200 jobs in Q1, the largest quarterly loss. The majority of these jobs were lost within the retail trade sector as seasonal employees transitioned out.
  • Year-over-year, the San Diego region’s median home price continued to climb, growing by 8.2 percent.
  • VC dollars in the region increased 60 percent compared to a year ago.

The Quarterly Economic Snapshot analyzes key economic indicators that are important to understanding the regional economy and the region’s standing relative to the 25 most populous metropolitan areas in the U.S. This releases includes data from January to March (Q1) 2018.

Read the full Econonic Snapshot here.


May 18, 2018

Each month the California Employment Development Department (EDD) releases industry data for the prior month. This edition of San Diego’s Economic Pulse covers April data, including unemployment, new business establishments, and job postings.

Highlights include:

  • The region’s unemployment rate was 2.9 percent in April, down 0.3 percentage points from March’s revised rate of 3.2 percent, and 1.0 percentage point lower than a year ago.
  • Every jurisdiction saw a decrease in the unemployment rate from the month prior.
  • The labor force contracted slightly, shedding 5,900 workers during the month; the seventh decline of the past 12 months. The labor force is now down 1,800 compared to a year ago.
  • Total nonfarm employment increased by 14,100, or 1.0 percent, in April. Compared to year ago, total nonfarm employment is now up 32,100, or 2.2 percent
  • Get the details in the full Economic Pulse here.

April 20, 2018

Each month the California Employment Development Department (EDD) releases industry data for the prior month. This edition of San Diego’s Economic Pulse covers March 2018 data, including unemployment, new business establishments, and job postings.

Highlights include:

  • The region’s unemployment rate was 3.2 percent in March, down 0.3 percentage points from February’s revised rate of 3.5, and 1.0 percentage point lower than a year ago.
  • Every jurisdiction saw a decrease in the unemployment rate from the month prior.
  • The labor force contracted slightly, shedding 8,700 workers during the month. The labor force is now up 1,800 compared to a year ago.
  • The largest job increases in March came from education and health services, up 1,200 jobs. Retail saw the largest decline during the month, losing 1,000 jobs.

Get the details in the full Economic Pulse here.