The San Diego Monthly Employment Report (October to November 2014) shows an increase in both the civilian labor force and civilian employment in the county, while civilian unemployment decreased. Highlights from the report include:
- San Diego’s unemployment rate remained constant at 5.8 percent–below the year-ago estimate of 7 percent
- Civilian labor force increased by 4,000
- Civilian employment increased by 4,400
- Total civilian unemployment decreased by 400
- 13,100 nonfarm jobs were added to the region
- The industry with the largest month-over employment loss was Construction with a loss of 1,300 jobs
- The industry with the largest year-over employment gain was Professional & Business Services with an increase of 13,300 jobs
The California Employment Development Department (EDD) reported a constant 5.8 percent in San Diego’s seasonally unadjusted unemployment rate from October 2014 to November 2014. Further, 4,400 jobs were added to the San Diego economy over the month.
The industry with the largest month-over employment gain was Trade, Transportation & Utilities with 6,800 jobs added. Three industries recorded month-over losses with the greatest coming from Construction, which recorded 1,300 jobs lost.
From November 2013 to November 2014, most industries experienced an increase in jobs, with Professional & Business Services seeing the most significant change with 13,300 jobs added in the past year. Only one industry, Financial Activities, saw a decrease over the year (-800). The sector, which had experienced a 9 percent wage gain during the real-estate market boom in early 2013, contracted over the year as refinancing and mortgage demand decreased and shrunk the workforce. [1]
San Diego County continues to add jobs to the workforce, creating more opportunity for workers. Year-over changes continue to indicate job gains in a majority of the industries from November 2013 to November 2014. While both Construction and Manufacturing employment show month-over decreases, both industries still show an increase over the year.