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The Big Picture San Diego Blog


June 2019

June 21, 2019

Each month the California Employment Development Department (EDD) releases employment data for the prior month. This edition of San Diego's Economic Pulse covers May 2019. Check out EDC's research bureau for more data and stats about San Diego's economy. 

This report is sponsored by Manpower San Diego.

Highlights include:

  • The region’s unemployment rate was 2.8 percent in May, down from a revised 3.0 percent in April 2019, and unchanged from the year-ago estimate of 2.8 percent
  • The region’s unemployment rate remains lower than both the state and national unemployment rates of 3.5 percent and 3.4 percent, respectively
  • Between April 2019 and May 2019, total nonfarm employment increased from 1,501,600 to 1,510,600, adding 9,000 jobs
  • Between May 2018 and May 2019, total nonfarm employment increased from 1,485,000 to 1,510,600, adding 25,600 jobs
  • Between May 2018 and May 2019, education and health services led the year-over gain, adding 8,700 jobs

 

June 20, 2019

For our next Board Member Spotlight, meet Kathryn Lembo, president & CEO at South Bay Community Services (SBCS). Read her Q&A below, get to know Kathryn and find out why EDC’s inclusive growth efforts are something she finds most interesting.

What is your “day job”?
As CEO, my days are dynamic and filled with a broad cross-section of individuals throughout the county. I’m fortunate to have the opportunity to meet with residents and youth (many with no home) who share their crucial insight on challenges impacting everyday living and hopes for the future. It’s through their eyes that navigate my day in discussions with school, nonprofit, health, and business leaders as well as policymakers as we work together to build true measurable solutions that respond to our community’s challenges. Above all, it’s an honor to take an idea to inception with my dedicated team at SBCS and our regional partners by implementing evidence-based programs that are changing the trajectory of families and communities.

Of all the boards in San Diego, why EDC?
To grow San Diego’s innovation economy: This is something that will demand a diversity of voices contributing to the conversation. The economic vitality of San Diego County is also crucial to the well-being of families we [SBCS] serve, and thus, important for us to take part in developing a strong local workforce to benefit employers, economy and our population.

Favorite quote?
"Be the kind of woman that when your feet hit the ground each morning, the devil says 'oh sh*t, she's up!'"

We know San Diego is a life-changing place, what was your life-changing moment?
A couple of summers into my undergraduate studies in biochemistry, my father insisted I needed a summer job. He proceeded to find one for me – a job as a lifeguard at a home for girls in New York. I spent the summer getting to know these young women who had lived through and experienced some truly horrible situations. They taught me about resilience. Most all, I learned the importance of community in helping to build strong families. Even though their homes were scattered with issues like violence, poverty, and drug abuse, the girl’s dreamed and hoped of returning home to their families. The following school year, I changed my major and this experience was in part the reason for my professional journey.

What part of EDC interests you most?
I’m most interested in EDC’s inclusive growth efforts.

 

 

June 7, 2019

Meet Cheryl Goodman, head of corporate communications at Sony Electronics. Read the Q&A below, get to know Cheryl and find out why she is proud to have Sony Electronics’ North American headquarters located here in San Diego.

What is your “day job”?

Every day, in Corporate Communications for Sony, I unearth and translate the deep tech that makes press, employees, and the general public excited to have Sony products not only in their homes, but to have Sony Headquartered in their hometown—#HelloSanDiego. Working alongside Sony President Mike Fasulo, we are on the road nearly every week to talk tech from sensors, to standards, to 8K, to robotics, to Hollywood events at Sony Pictures or Sony Corp in Tokyo. Sony is a creative entertainment company with deep technology roots, and I’m fortunate to be able to illustrate how we move people emotionally though epic content & our best-in-class technology.

Of all the boards in San Diego, why EDC?

EDC gathers relevant leaders surrounding key topics to make business move forward...and it’s fun. Summer Bash, anyone?

Favorite quote?

“Be the CEO your mom wanted you to marry.”

We know San Diego is a life changing place, what was your life changing moment?

Leaving a great paying job at a great company to start my own business in 2013 reconfirmed to me that the only limits in life are the ones we put on ourselves. I left because I didn’t like my title or future growth path, those things changed and so did my life.

What is your favorite EDC program or initiative?

San Diego: Life. Changing.

 

June 5, 2019

Today, San Diego Regional EDC and its employer-led Inclusive Growth Steering Committee officially endorsed a regional goal to create 50,000 new quality jobs within small businesses by 2030. Driven by EDC’s latest study release, Equipping Small Businesses to Compete, the regional goal and accompanying set of employer recommendations aim to help small businesses in San Diego to compete.

 “If you care about the future of San Diego—economic competitiveness and mobility—then you need to pay attention to small businesses,” said Janice Brown, board chair, San Diego Regional EDC. “From large employers to elected officials, it’s everyone’s responsibility to make sure that small businesses have the tools to succeed.”

In its new study, EDC found that while small businesses—those with fewer than 100 employees—employ the majority of San Diego’s workforce, only 26 percent of jobs in small businesses are quality jobs—those that pay enough for economic security (paying wages of at least $40,529 per year or $19.49 per hour).

Additional key findings include:

  • Due to financial challenges, small businesses pay 14 percent lower average wages.
  • Only 36 percent of all businesses are minority-owned, and about the same proportion are woman-owned.
  • Opportunity industries, such as construction and transportation, offer a greater number of quality jobs than many innovation industries, including precision health and cybersecurity. Additionally, many opportunity industry jobs can be accessed without a bachelor’s degree.

Citing these key findings, it’s important for the region to invest in diverse founders, support existing small businesses, and focus on job growth within opportunity industries. San Diego will be able to drive a greater economic impact and broaden access to quality jobs, especially for people residing in communities with lower rates of educational attainment.

“When small businesses succeed, it leads to more quality jobs, better local economies, and healthier communities,” said Jane Finley, senior vice president and area manager, Kaiser Permanente. “We support this goal and invest in programs like Inner City Capital Connections because Kaiser Permanente believes that investing in small businesses and creating more quality jobs leads to improved health and well-being for every San Diego resident.”

EDC’s Inclusive Growth Steering Committee is led by large employers, who understand the crucial role that small businesses play in the regional economy.

In order to meet its goal by 2030, the Inclusive Growth Steering Committee is committed to collaborating with other regional employers through the following actions:

  1. Transparency – connect with and better understand existing local service providers to strengthen their capacity and resiliency.
  2. Engagement – commit to mentoring and/or building strategic partnerships with small businesses in high-growth, high-wage industries, particularly from underrepresented groups (women, minority, veteran, disabled, low-moderate income).
  3. Investment – invest directly in small business support programs, such as supplier diversification and growth acceleration initiatives.

For more information about these actionable recommendations or a complete list of employers committed to this effort, visit smallbiz.inclusivesd.org.

EDC’S INCLUSIVE GROWTH INITIATIVE

In 2018, EDC launched a data-driven initiative focused on promoting inclusive growth as an economic imperative, emphasizing that San Diego employers must take active measures to promote inclusion, or the region will no longer be able to compete with other regions. Together with its Inclusive Growth Steering Committee, EDC aims to set regional targets and release actionable recommendations for three main goals: build a strong local talent pool; equip small businesses to compete; and address the affordability crisis.

Additionally, San Diego recently won a $3 million grant from JPMorgan Chase’s AdvancingCities program to further propel the inclusive growth initiative and its goals.

For more information about the Inclusive Growth initiative, visit inclusiveSD.org. Join the conversation at #inclusiveSD.

**Read the full press release.**