Every quarter San Diego Regional EDC 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 issue covers data from Q2 2018.
Following seasonal declines in employment during Q1, San Diego, and the overwhelming majority of the most populous metros, experienced an increase in employment during Q2 2018. Welcoming recent graduates and ramping up for the summer season, the region added 16,500 jobs – a 1.1 percent increase in employment during the quarter. Compared to a year ago, nonfarm employment was up 22,500 jobs, or 1.5 percent.
San Diego’s unemployment rate remained below that state and national rates of 4.5 and 4.2 percent, respectively.
Key findings from the snapshot:
- When compared to its regional neighbors, San Diego’s unemployment rate continued to fare better than both Riverside (4.7 percent) and Los Angeles (4.5 percent).
- With the summer tourist season approaching, the leisure and hospitality sector recorded the largest quarterly gain, adding 6,300 jobs during Q2.
- Year-over-year, the region’s median home price continued to climb, growing by 6.6 percent.
- Compared to the same period a year ago, VC investment in the region has more than doubled.
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 April to June (Q2) 2018.