Economy in crisis: Structural challenges will persist after economy recovers

Key Takeaways San Diego’s jobs recovery has left the lowest-paid workers behind. Disproportionate job losses and the possibility that lower-paid residents will owe large sums in back-rent will exponentially exacerbate wealth inequality. Lower mortgage rates drove up house prices, making housing even less affordable despite record job losses and elevated unemployment. Needless to say, 2020 […]

Economy in crisis: Job growth slows as we head into New Year

KEY TAKEAWAYS After an impressive October employment report, San Diego is set to end the year on a down note. Job growth in November is expected to slow, similar to the U.S., and fresh stay-at-home orders set the stage for a weak December and January. The string of weak employment expectations could delay a return […]

Economy in crisis: SD housing market advances, but geographic differences remain

KEY TAKEAWAYS Despite ongoing economic pressure, San Diego home values and rents reached new peaks in October. Home prices and rents are highest along the coast, but price increases have been most pronounced in more rural, inland areas of the county. Areas in the county with the highest unemployment rate tend to have the lowest […]

Economy in crisis: Closer look at August employment report reveals troubling trend

KEY TAKEAWAYS A deep dive into San Diego’s employment report for August reveals a troubling trend. Thousands of workers have fled the labor force since February, which has artificially lowered the unemployment rate and puts San Diego’s economy at risk. THE SNAG We’re taking a deeper dive into San Diego’s employment report for August. The […]

Economy in crisis: Local housing market stays hot, unaffordable despite COVID

THE TAKEAWAYS… House prices continued to climb locally, despite record job losses from COVID Lower mortgage rates, strong population growth, the addition of high-earning newcomers to the region, and a razor-thin inventory of available houses have fueled house price growth The evidence suggests that thousands of people are being priced out of San Diego each […]

Economy in crisis: SD tourism holds up, but the recovery remains uneven

THE KEY TAKEAWAYS… San Diego’s accommodation sector is performing well as summer draws to a close. Hotels have been slow to rehire workers, but recent metrics suggest that a strong spate of hiring is in the cards. The recovery has been uneven, but a number of industries have recouped most of the jobs lost to […]

Economy in crisis: Fresh thinking on career advancement is needed

THE TAKEAWAYS Fresh thinking on career advancement is needed in order to create a more resilient San Diego economy. San Diego’s lowest-paid workers were the first to be let go during the COVID downturn and will likely be the last to be called back to work. Upskilling and reskilling employees in lower-paying sectors like retail […]

Economy in crisis: July jobs report likely to be overhyped

THE TAKEAWAYS The July jobs report is likely to look better than it should because of the timing of data collection by the Labor Department. San Diego’s tourism sector continued to recover through mid-July, before renewed shutdown orders were given, but U.S. air travel remains well below year-ago levels. Any setback from last week’s partial […]

Economy in crisis: Another round of uncertainty

The takeaways A solid U.S. jobs report suggests that, in June, San Diego may have recovered as many as 45,000 of the jobs lost to COVID, more than half of which are from leisure/hospitality and retail. The San Diego jobs recovery lags the nation’s somewhat as local businesses reopened later than those in other parts […]

Economy in Crisis: Retail likely to rebound in June

San Diego’s May employment report roundly beat expectations. Against all odds, the region recovered 18,200 jobs lost during COVID-19. While this represents less than 10 percent of the 223,700 payrolls lost from February to April 2020, it’s still a promising sign that the local job market has turned the corner. Eating and drinking establishments, ambulatory […]

Not finding what you're looking for?

Get in touch, we'd be happy to help.

Contact Us