The San Diego Monthly Employment Report (April 2015 to May 2015) shows an increase in the civilian unemployment rate, labor force and employment.
Highlights from the report include:
- San Diego’s unemployment rate was 4.9 percent in May, up 0.1 percent from April but below the year-ago estimate of 6.1 percent
- Labor force increased by 13,700
- Employment increased 10,800
- Unemployment increased by 2,900
- Nonfarm jobs in the region increased by 9,500
- Eight sectors had month-over employment gains with Leisure & Hospitality reporting the largest gain of 4,900 jobs added
- Financial Activities had the largest month-over employment loss, with a decline of 1,000 jobs
- All industries grew in employment between May 2014 and May 2015, with Professional & Business Services having the largest increase of 11,000 jobs
The California Employment Development Department (EDD) reported a 0.1 percent increase in San Diego’s unemployment rate, from 4.8 percent in April to 4.9 percent in May. The 4.9 percent unemployment rate falls significantly below the highest May unemployment rate (10.2 percent in 2010) but remains higher than the lowest May unemployment rate (3.6 percent in 2006) experienced in the region over the last 10 years.
The industry with the largest month-over employment gain was Leisure & Hospitality with 4,900 jobs added, primarily from accommodation and food services, which contributed to over 70 percent of the sector’s job growth. Two industries recorded month-over job losses, with Financial Activities experiencing the largest decline at 1,000 jobs lost.
From May 2014 to May 2015, all industries experienced increased job growth. Professional & Business Services had the greatest year-over gain, adding 11,000 jobs to the region, over 75 percent of which came from Professional, Scientific & Technical Services.
San Diego County continues to show signs of improvement in its economy with job gains reported across all industries from May 2014 to May 2015 and just two sectors experiencing month-over job losses.