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Research Blog

October 11, 2017

Last week, thousands of MFG Day events were held across the country to celebrate modern manufacturing. In San Diego, more than 50 companies participated in events - from facility tours to regional resource fairs - to showcase a wide range of job opportunities. This included a private tour of Samsung’s maquiladora in Tijuana, which employs upwards of 6,000 workers, alongside Rep. Susan Davis and more than 20 EDC partners. Fun fact: San Diego’s MFG day is one of the only bi-national celebrations in the country. The week culminated at EDC’s annual breakfast event, attended by more than 200 local business and civic leaders.

The goal of MFG day is to change public perception of the sector, and introduce people to manufacturing careers. Even though San Diego has a smaller concentration of manufacturing employment than the national average, the region is home to nearly 110,000 manufacturing jobs, spread across more than 300 industries1. These are not just team assembler and machinist roles; there are hundreds of unique occupations from finance to marketing to engineering. And these are good paying jobs. In 2016, the average annual salary exceeded $79,000 in San Diego2.

Dismissiveness toward manufacturing comes from a track record of employment declines that began well before the Great Recession, in large part due to increases in automation. However, with a focus on advanced manufacturing, San Diego has fared much better. Since 2007, when the recession began, manufacturing employment declined 11.2 percent nationwide. During that same time, manufacturing in San Diego grew 3.2 percent, adding more than 3,400 jobs3.

This is because manufacturing in San Diego is driven by the innovation economy that makes aircrafts, medical equipment and semiconductors. Of course, there are also apparel makers, plastic producers and world-famous breweries. But the top eight manufacturing industries, accounting for more than 61,000 manufacturing jobs, are all in advanced industries such as aerospace and biotech4.  

Strategic development of San Diego's defense and life science clusters, as well as the strong partnership with Baja California, has helped the region’s manufacturing sector remain relevant and competitive.

1-4EMSI 2017.3.

September 15, 2017

Each month the California Employment Development Department (EDD) releases industry data for the prior month. This edition of San Diego’s Economic Pulse covers August 2017 data, including unemployment, new business establishments and job postings.

Highlights include:

  • The region’s unemployment rate was 4.7 percent in August, unchanged from a revised 4.7 percent in July.
  • The unemployment rate was unchanged in every jurisdiction, with the exception of Carlsbad, which increased by 0.1 percentage points in August.
  • The region’s labor force grew again in August, adding 300 workers during the month.
  • Year-over-year, real estate, rental and leasing growth outpaced all other sectors, up 7.1 percent; an increase of 2,000 jobs.

Read San Diego's Economic Pulse here.

August 18, 2017

Each month the California Employment Development Department (EDD) releases industry data for the prior month. This edition of San Diego’s Economic Pulse covers July 2017 data, including unemployment, new business establishments and job postings.
 
Highlights include:
  • The unemployment rate increased 0.4 percentage points to 4.7 percent in July.
  • Unemployment increased in 19 out of 19 jurisdictions. Imperial Beach saw the largest increase of 0.6 percentage points.
  • The region’s labor force grew again in July, adding 12,500 workers during the month.
  • Year-over-year, real estate, rental and leasing growth outpaced all other sectors, up 4.9 percent; an increase of 1,400 jobs.  
 
Read the Economic Pulse here.
August 16, 2017

Following seasonal declines in employment during Q1, San Diego experienced an increase in employment during Q2 2017. The region added 14,100 jobs - a 0.98 percent increase in employment during the quarter. Year-over-year, the region added 27,800 jobs, increasing employment by nearly 2.0 percent.

Meanwhile, San Diego’s unemployment rate rose by 0.1 percentage points during Q2, but is 0.6 percentage points lower than the same period a year ago.

Other key findings from EDC's Quarterly Economic Snapshot include:

  • San Diego closed Q2 2017 with an unemployment rate of 4.3 percent, the 15th lowest among top U.S. metros and below the national and state rates of 4.5 and 4.9 percent, respectively.
  • With the summer tourist season approaching, the leisure and hospitality sector recorded the largest quarterly gain, adding 9,300 jobs during Q2.
  • The median home price rose 7.3 percent from the previous quarter, and is now up 8.0 percent compared to a year ago.
  • VC dollars in the region increased 14.9 percent compared to the previous quarter.

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 release includes data from April to June (Q2) 2017.

Read it here.