The San Diego Monthly Employment Report (December 2014 to January 2015) shows an increase in the civilian unemployment rate, a slight increase in the civilian labor force, and a decrease in civilian employment. Highlights from the report include:
- San Diego’s unemployment rate was 5.8 percent in January, up 0.3 percent from December 2014 but below the year-ago estimate of 7.2 percent
- Labor force increased by 100
- Employment decreased by 4,900
- Unemployment increased by 4,900
- Nonfarm jobs in the region declined by 20,100
- Construction had the largest month-over employment gains, with an increase of 2,200 jobs
- Trade, Transportation & Utilities had the largest month-over employment loss, with a decline of 9,900 jobs
- All industries grew in employment between January 2014 and January 2015, with Professional & Business Services having the largest increase of 11,300 jobs
The California Employment Development Department (EDD) reported an increase in San Diego’s unemployment rate, from a revised 5.5 percent in December 2014 to 5.8 percent in January 2015. This falls below the highest January unemployment rate (11 percent in 2010) and above the lowest January unemployment rate (4.1 percent in 2006) experienced in the region over the last 10 years. San Diego County has experienced increased December-to-January unemployment rates for the past decade.
The industry with the largest month-over employment gain was Construction, with 2,200 jobs added, primarily from specialty trade contractors, which contributed 1,500 jobs. Eight industries recorded month-over losses with the greatest coming from Trade, Transportation & Utilities, which recorded 9,900 jobs lost. “Seasonal employment is a significant factor in this loss,” says SDWP CEO Peter Callstrom. “San Diego has traditionally experienced increased unemployment in retail trade going into the new year.” The decrease in seasonal employment for retail trade (down 9,400 jobs) accounted for over 90 percent of the sector’s job losses.
From January 2014 to January 2015, all industries experienced increased job growth. Professional & Business Services had the greatest year-over gain adding 11,300 jobs to the region, over 70 percent of which came from professional, scientific & technical service employment.
San Diego County continued to experience job gains in a majority of industries from January 2014 to January 2015. While most sectors posted month-over job losses, year-over job growth across all industries indicates overall strength in the region’s market.