San Diego’s Good News of the Week – June 18, 2021

Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

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For the week of June 18, 2021, here’s what we’re reading:

…and here are the events we’re attending:

San Diego’s Data Bites: June 2021

Presented by Meyers Nave, this edition of San Diego’s Data Bites covers May 2021, with data on employment, housing, and more insights about the region’s economy. Key takeaways include a falling unemployment rate and mellowing housing prices.

Dig In

Survey: San Diego’s Changing Business Landscape

To identify evolving trends in local business needs and operations, ensuring their ability to grow and thrive in the region, EDC is surveying more than 200 companies in the region’s key industries on a rolling basis throughout 2021 to monitor and report shifts in their priorities and strategies. Insights will be shared bi-monthly in our Changing Business Landscape Series here.

Take the Survey


Additional resources:

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Want to submit your event or news update to our weekly newsletter? Contact us for more information.

Candela Delucchi
Candela Delucchi

Coordinator, Marketing

San Diego’s Data Bites: June 2021

Presented by Meyers Nave, this edition of San Diego’s Data Bites covers May 2021, with data on employment, housing, and more insights about the region’s economy at this moment in time. Check out EDC’s Research Bureau for even more data and stats about San Diego.

KEY TAKEAWAYS

  1. San Diego establishments added just 2,000 net new payroll positions in May. Gains in Leisure and Hospitality were largely offset by losses in Construction and Professional and Business Services.
  1. The unemployment rate fell to 6.4 percent from April’s 6.7 percent even as several thousand people joined or rejoined the labor force.
  1. The sharp rise in home values appears to be over, but housing affordability is still well below pre-pandemic levels.

Industry view

Job gains were inconsistent across industries. Out of the 16 supersectors tracked by the California Employment Development Department (EDD), six sectors showed job growth, three sectors showed no change, and seven sectors showed job losses. Leisure and Hospitality led these sectors with 3,900 jobs added in May—3,100 of which were in the Accommodation and Food Services subsector—tacking on to the 7,000 jobs added in April. These gains were followed by increases in Government positions (1,200 jobs), Healthcare and Social Assistance (1,000 jobs), and Transportation and Warehousing (800 jobs).

Job losses in several industries countered some of the growth in May’s employment. Professional and Business services backtracked in May with a decrease of 2,500 jobs—2,100 of which were in the Administrative and Support Services subsector. Construction also reversed some of the headway made in April with a loss of 1,200 jobs in May.

While May’s employment report may have underwhelmed, year-over-year (YoY) growth continues to show just how far San Diego’s regional economy has come since the pandemic eliminated more than 200,000 jobs in the region. Employment in Clothing and Clothing Accessories Stores has increased 136.7 percent since May of last year, followed by growth of 44.3 percent in Leisure and Hospitality. See below for month-over-month (MoM) and YoY change by industry.

San Diego’s housing market comes back to earth, but remains largely unaffordable

Despite the unprecedented disruption to the regional labor market from COVID-19, house prices climbed at an accelerated rate. The average listing price for a home in San Diego climbed 38 percent from February 2020 to February 2021. Home values have fallen off those recent highs, but the fact remains that the average price of a home in May was still some 22 percent higher than it was in February 2020.

Fortunately, it looks like affordability (measured as the ratio of total income to average monthly mortgage payment) may be improving. After 13 months of deterioration, the aggregate affordability of a home in San Diego was up 14.3 percent in May from March 2021. Several factors are at play. First, wage income has increased as job gains have continued. Second, the rise in mortgage rates of 25 to 30 basis points has pushed home prices down to help lower average monthly mortgage payments by 12.1 percent. This is because lower mortgage rates are an important factor driving price gains for real estate in San Diego County. Mortgage rates account for 70 percent of house price changes locally, almost double the national average of 35 to 40 percent. This makes sense, considering that San Diego real estate isn’t cheap, and homebuyers have likely been trying to maximize the amount of house they can buy given their budget.

The progress on affordability is encouraging, but more work needs to be done. San Diego County’s housing market has been chronically undersupplied for more than a decade, putting upward pressure on prices. This has accelerated churn in the local population, where lower-income households are being priced out to other parts of the state or elsewhere across the U.S., but new residents are showing up with high-paying jobs in hand who can continue to drive real estate values higher. If it continues, this trend may only serve to exacerbate San Diego’s affordability problem and could limit homeownership to an even smaller proportion of the population. Ensuring San Diego remains affordable and attractive to business and people is critical to its economic recovery and future competitiveness.

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Good News of the Week – June 11, 2021

Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

Get Good News of the Week in your inbox every Friday. → Sign up

For the week of June 11, 2021, here’s what we’re reading:

…and here are the events we’re (virtually) attending:

EDC’s Monthly Report: June 2021

With and through nearly 200 investors, EDC works to maximize San Diego’s prosperity. From connecting companies to tax credits to taking small businesses online, here’s what EDC did in May 2021.

Read More

 


Additional resources:

Be in the know – sign up below to receive future editions of GNOTW.

Want to submit your event or news update to our weekly newsletter? Contact us for more information.

Candela Delucchi
Candela Delucchi

Coordinator, Marketing

Good News of the Week – June 4, 2021

Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

Get Good News of the Week in your inbox every Friday. → Sign up

For the week of June 4, 2021, here’s what we’re reading:

…and here are the events we’re (virtually) attending:

San Diego’s Quarterly Economic Snapshot: Q1 2021

Every quarter, EDC analyzes key economic indicators that are important to understanding the regional economy through trends in employment, housing, and investment. This month: Home prices and VC are up, and office space is here to stay.

Read the Full Report

 


Additional resources:

Be in the know – sign up below to receive future editions of GNOTW.

Want to submit your event or news update to our weekly newsletter? Contact us for more information.

Candela Delucchi
Candela Delucchi

Coordinator, Marketing

Good News of the Week – May 28, 2021

Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

For the week of May 28, 2021, here’s what we’re reading:

…and here are the events we’re (virtually) attending:

We’re hiring: Economic Development Manager (Life Sciences)

EDC is hiring an Economic Development Manager (Life Sciences) with five years of experience, knowledge of regional and state economies and industries, and preferred experience in the life sciences field.

This role will lead a strategic economic development framework to enable business attraction, retention, and expansion in San Diego’s life sciences industry.

Apply Now, or Help Us Spread the Word!

 


Additional resources:

Be in the know – sign up below to receive future editions of GNOTW.

Want to submit your event or news update to our weekly newsletter? Contact us for more information.

Heather Dewis
Heather Dewis

Coordinator, Marketing

Young Professional Spotlight: Alyssa Snow

Alyssa Snow, a CSU San Marcos and Link to San Diego alumna, is a cybersecurity professional currently working for Teradata. She has participated in two of EDC’s Advancing San Diego industry engagement events in 2021—most recently for a Women in STEM career panel. For Alyssa, participating in these events is meaningful because she remembers how it felt to sit on the opposite end of the room only a few years back, and finding her career path through EDC’s Link to San Diego event.

Read more about Alyssa’s experience below.

How did Link to San Diego launch your career?

In my third year of college at CSU San Marcos in 2018, I attended EDC’s “Link to San Diego: Cybersecurity” career panel and industry engagement event. This event propelled my career in cybersecurity. During the event, one panelist shared what it was like to work as a security engineer, which inspired me to learn more.

I approached the panelist, a representative from Teradata, and asked him how relevant specific projects of mine may be to practical security experience. After the event, I continued to keep in touch with the professional via LinkedIn and email. He sent me various links to resources that introduced security topics that I was interested in learning more about. Eventually, this individual introduced me to a few other employees from Teradata.

I will never forget this day. It meant so much to me that six security professionals took the time to have lunch with me a few weeks after the event and answer some questions regarding what it is like to work in the industry. By the end of the lunch, the Application Security team director asked me for my resume. He informed me that there were no internship opportunities for the security organization at that time, however, he would like to reach out if one were to become available.

Just a month after this lunch, a recruiter reached out to me and asked me if I would like to interview for an open internship position on that very team. I became one of the first-ever interns in the security organization at Teradata. I interned with the Application Security team for a year and a quarter, and was responsible for delivering automated solutions to scale product security across the organization. It was a remarkable experience that gave me direction in my career path.

Where are you now?

I now work at Teradata’s San Diego office as a full-time offensive security engineer. My team and I use adversary perspectives to help Teradata evaluate risks and identify process gaps to help improve the organization’s security posture. I love working in this industry because I am constantly facing new challenges that require creative solutions. I would not have had this experience if I had not attended “Link to San Diego: Cybersecurity” in 2018.


You might also like:

For COVID-19 recovery resources and information: Visit this page, or see how we can help your company free of charge.

WTC San Diego’s Global Brief: May 2021

Each month, World Trade Center San Diego delivers the latest global news and updates straight to your inbox. In May 2021, here’s what you need to know about San Diego’s global trade, investment, and engagement:

White Labs packages beer to showcase yeast strains

White Labs, a leader in yeast and fermentation education, is now packaging its beer to help showcase the different yeast strains it sells. The beer will be available for sale directly through the company’s San Diego tasting room and online store for shipment to California and North Carolina.
➝ Read More 

Dynam.AI, Empyrean Medical Systems partner on cancer treatment

Dynam.AI, which develops machine learning technologies and advanced image data, has partnered with Empyrean Medical Systems to create AI-driven products for cancer detection and treatment. Empyrean will integrate Dynam.AI’s computer vision and machine learning capabilities into its tumor detection and treatment, genomics analytics, simulations, and multi-targeting products.
➝ Read More

Blue Sky Network offers condition-based alerts for real-time updates 

Blue Sky Network‘s cloud-based fleet management solution SkyRouter can now send custom alert messages to fleet managers and operational stakeholders. These alerts make use of geofenced locations to offer world-class monitoring, analytics, and communication systems for land, sea, and airborne assets.
➝ Read More

Other san diego news

Events

GROW YOUR COMPANY IN SAN DIEGO ↓

World Trade Center San Diego works directly with companies—free of charge—to help them expand internationally and grow in San Diego.

  • Export Specialty Center: For small companies interested in learning about exporting and international growth.
  • MetroConnect: For small and medium sized companies ready to export and grow internationally.

Plus: Get WTCSD’s Global Brief, monthly global news and updates delivered straight to your inbox.


You might also like:

For COVID-19 recovery resources and information: Visit this page, or see how we can help your company free of charge.

AAPI owned and operated businesses in San Diego

In recognition of Asian, Asian American, and Pacific Islander (AAPI) Heritage Month, EDC’s brands pulled together the below blogs on AAPI innovators across the San Diego region. Check them out here:

Innovation at work: 5 AAPI-owned companies to know in San Diego 

Featuring:

  • Menon Renewable Products/Menon Biosensors
  • Mesa Biotech
  • MicroQ
  • Microtek
  • Seatrec

AAPI-owned and led businesses in North County

 

Featuring:

  • Seatrec
  • Carlsbad Strawberry Company
  • Applied Membranes
  • Girl & Dug Farm
  • Yasukochi Family Farms
  • Menon Renewable Products

EDC is hiring

San Diego Regional EDC is a 20+ person team dedicated to mobilizing business, government, and civic leaders around an inclusive economic development strategy to connect data to decision making, maximize regional prosperity, enhance global competitiveness and position San Diego effectively for investment and talent.

EDC values diversity of thought, experience, and perspectives, and encourages individuals with non-traditional backgrounds to apply for the below position(s). We are a passionate group of professionals committed to supporting inclusive economic growth in San Diego, and we welcome applicants who are eager to learn and join us in this important work. We support regional companies and create programs and initiatives that grow our economy.

Open role:

  • Manager, Economic Development – Life Sciences

More on our Careers Page

Apply here

Good News of the Week – May 21, 2021

Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

For the week of May 21, 2021, here’s what we’re reading:

…and here are the events we’re (virtually) attending:

San Diego’s Data Bites: May 2021

Each month, EDC’s Research Bureau analyzes the California Employment Development Department’s employment data for the prior month. Presented by Meyers Nave, this month’s Data Bites cover April 2021, including unemployment fluctuations and continued gender inequity in the labor force.

Dig In

 


Additional resources:

Be in the know – sign up below to receive future editions of GNOTW.

Want to submit your event or news update to our weekly newsletter? Contact us for more information.

Heather Dewis
Heather Dewis

Coordinator, Marketing