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Research Blog

October 22, 2019
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 2019.
 
San Diego, and nearly all of the 25 most populous metros, experienced an increase in total nonfarm employment during Q2.  Aligned with seasonal changes, the region added 24,600 jobs – a 1.6 percent increase in employment during the quarter. Compared to a year ago, nonfarm employment was up 25,600 jobs, or 1.7 percent.
 
Meanwhile, San Diego’s unemployment rate was 3.3 percent in Q2, down from 3.6 percent in Q1.
 
Key findings from the snapshot:
  • San Diego ended Q2 with an unemployment rate of 3.3 percent and the sixth lowest among the 25 most populous metros.
  • With the approach of summertime travel, the leisure and hospitality industry recorded the largest quarterly gain, adding 9,800 jobs, a nearly 5 percent growth during Q2. The construction industry was also a leader in Q2 growth adding 5,400 jobs. As expected with seasonal changes and the end of the school year approaching, education services declined 3.6 percent from Q1 to Q2, shedding 1,200 jobs.  
  • Year-over-year, the region’s median home price continued to climb, growing by 2.3 percent. On the other hand, both single family and multi-family units declined in Q2 2019 compared to Q2 2018.
  • VC dollars in the region increased nearly 178 percent compared to the previous quarter.

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) 2019.

October 18, 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 September 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.

San Diego's Economic Pulse - October 2019 from San Diego Regional EDC on Vimeo.

Highlights include:

  • The region’s unemployment rate was 2.7 percent in September, down from a revised 3.4 percent in August 2019, and below the year-ago estimate of 3.1 percent
  • The region’s unemployment rate remains lower than both the state and national unemployment rates of 3.5 percent and 3.3 percent, respectively
  • Between August 2019 and September 2019, total nonfarm employment increased from 1,510,400 to 1,515,000, adding 4,600 jobs
  • Between September 2018 and September 2019, total nonfarm employment increased from 1,484,400 to 1,515,000, adding 30,600 jobs
  • Between September 2018 and September 2019, professional and business services led the year-over gain, adding 7,700 jobs and mostly driven by growth in professional, scientific, and technical services (up 6,600)

October 3, 2019
 
From December 2018 and January 2019, the San Diego Small Business Lending Collaborative surveyed 129 existing and 101 prospective business owners in three San Diego Promise Zone zip codes (92102, 92113 and 92114). The purpose of the survey was to identify barriers for small business establishment and growth within the San Diego Promise Zone, a geographic area comprising of Barrio Logan, Southeastern San Diego, and Encanto. Historically disadvantaged, the culturally rich communities within the San Diego Promise Zone possess unique barriers that inhibit economic growth.
 
The study, written by the San Diego Regional EDC, found that the biggest challenge business owners face is related to credit/financing. Only 12 percent of business owners have ever applied for business financing, and out of those who have, they found only expensive options or were declined due to bad credit or income requirements. The final report outlines recommendations and strategies for small business owners in the San Diego Promise Zone to overcome these obstacles and grow their companies. For example, expanding access to entrepreneurship training and accelerator programs for low to moderate income populations.
 
 

September 20, 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 August 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.

 

  • The region’s unemployment rate was 3.4 percent in August, down from a revised 3.6 percent in July 2019, and below the year-ago estimate of 3.5 percent..
  • The region’s unemployment rate remains lower than both the state and national unemployment rates of 4.2 percent and 3.8 percent, respectively
  • Construction (up 2,900) added the largest number of jobs over the month, with gains centered in speciality trade contractors(up 1,800)
  • Between August 2018 and August 2019, total nonfarm employment increased from 1,485,300 to 1,512,700, adding 27,400 jobs.
  • Government (up 8,400) followed by professional & business services(up 6,600) led job growth during the past year