The San Diego Monthly Employment Report (June 2015 to July 2015) shows increases in the civilian unemployment rate, labor force and employment.
Highlights from the report include:
- San Diego’s unemployment rate was 5.4 percent in July, up 0.4 percent from June but below the year-ago estimate of 6.9 percent
- Labor force increased by 15,600
- Employment increased 8,500
- Unemployment increased by 7,200
- Nonfarm jobs in the region decreased by 1,900
- Eight sectors had month-over employment gains with Leisure & Hospitality reporting the largest gain of 5,300 jobs
- Government posted the largest month-over employment loss, with a decline of 12,200 jobs
- All industries, with the exception of Other Services and Mining & Logging, grew in employment between July 2014 and July 2015, with Professional & Business Services having the largest increase of 12,600 jobs.
The California Employment Development Department (EDD) reported a 0.4 percent increase in San Diego’s unemployment rate, from 5.0 percent in June to 5.4 percent in July, a typical seasonal increase from June to July. The 5.4 percent unemployment rate falls below the highest July unemployment rate (12.6 percent in 2010) but remains higher than the lowest July unemployment rate (5.2 percent in 2006) experienced in the region over the last 10 years. An increase in labor force participation indicates a healthier economy, unlike drops caused by people leaving the workforce.
The industries with the largest month-over employment gains were Leisure & Hospitality (up 5,300 jobs) and Professional & Business Services (up 2,400 jobs). Two industries recorded month-over job losses, with Government experiencing the largest decline at 12,200 jobs lost. Approximately 75 percent of the sector’s job losses were primarily due to a seasonal decrease in local government education (down 9,300 jobs).
From July 2014 to July 2015, all industries experienced increased job growth, except for Mining & Logging, as well as Other Services (Repair & Maintenance, Personal & Laundry Services and Religious, Grants, Civic, Professional & Like Organizations). Professional & Business Services had the greatest year-over gain, adding 12,600 jobs to the region, approximately 76 percent of which came from Professional, Scientific & Technical Services.
San Diego’s Tourism industry (part of Leisure & Hospitality) is getting a boost with hotel sales (average selling price per room) in the county soaring by over 43 percent.*
While the unemployment rate increased from June to July, over the past year, over 48,000 positions were added to the economy in San Diego County.