The California Employment Development Department released the latest unemployment numbers for the San Diego region, indicating that the unemployment rate declined from 7.0 percent in February 2014 to 6.9 percent in March 2014. Comparatively, California and the nation showed an unadjusted unemployment rate of 8.4 percent and 6.8 percent, respectively, in March 2014.
Although the unemployment rate continues to decline each month, it is important to note that this percentage is still above pre-recession rates. In the past 10 years, March saw the lowest unemployment rate in 2006 at 4.0 percent and the highest unemployment rate in 2010 at 10.9 percent.
To further understand the employment environment situation in San Diego, a detailed depiction of the numbers for the civilian labor force, employed individuals and unemployed individuals from March 2004 to March 2014 is provided below.
The civilian labor force includes individuals who are employed and actively searching for a job. (Note: Discouraged workers or workers who believe that there are no employment opportunities for them and have given up searching for a job are not included in this metric.) The San Diego civilian labor force increased 126,500, from 1.48 million in March 2004 to 1.6 million in March 2014. This is an 8.54 percent growth.
The number of people employed in San Diego during March has increased 92,200, from 1.4 million in March 2004 to 1.5 million in March 2014—an increase of 6.56 percent.
Comparatively, the number of unemployed civilians has increased by 34,400 from 76,300 in March 2004 to 110,700 in March 2014. That is a 45.09% increase in civilian unemployment in the past 10 years.
To summarize the last three graphs, over the past 10 years, San Diego’s employment growth has been unable to keep pace with the labor force.
For the original March 2014 Employment report, visit: www.calmis.ca.gov/file/lfmonth/sand$pds.pdf
EDD will release the employment report for April 2014 on May 16.