The San Diego Monthly Employment Report (October 2017 to November 2017) shows increases in the civilian labor force and employment and a decrease in the unemployment rate.1
Unemployment
The California Employment Development Department (EDD) reported a decrease in San Diego’s unemployment rate from a revised 4.1 percent in September to 3.7 percent in October, remaining below the year-ago estimate of 4.7 percent.
The 3.7 percent unemployment rate falls below the highest October unemployment rate (11.1 percent in 2010) and below the lowest October unemployment rate experienced in the region over the last 10 years (4.7 percent in 2016).
Month-Over Job Changes2
Seven sectors reported month-over job gains. Trade, Transportation & Utilites recorded the largest gains, adding 7,800 net jobs to the economy, with 6,300 coming from Retail Trade and 1,000 from Transportation, Warehousing & Utilities.3 Educational & Health Services added 2,700 jobs, Government added 2,600 jobs, followed by Other Services (up 600), Construction (up 500), and Manufacturing and Financial Activities (up 300 each).
Two sectors reported month-over job losses, and Information continues to experience no change. Leisure & Hospitality reported the largest month-over loss with 2,300 jobs, followed by Professional & Business Services (down 400). Overall, employers in San Diego County gained 12,100 net jobs in the past month.
Year-Over Job Changes
Between November 2016 and November 2017, seven sectors experienced year-over gains. Educational & Health Services continues to experience the largest year-over gains, adding 7,000 jobs to the region. Most of this growth came from a 6,200 job increase in Health Care & Social Assistance.4
Government increased by 4,100 jobs, followed by Construction (up 3,000), Leisure & Hospitality (up 2,100), Financial Activities (up 1,600), Professional & Business Services (up 600) and Manufacturing (up 200).
Trade, Transportation & Utilities experienced the only year-over loss of 1,500 jobs and one industry experienced no change (Information). Overall, employers in San Diego County have added 20,800 net jobs in the past year.
“We’re in the height of the holiday season, with record low unemployment rates—a full percent less than this time last year, and the lowest since December 2000—and an employment surge driven by retail,” says Phil Blair, Executive Officer of Manpower Staffing/San Diego. “If previous cycles hold, we’ll see seasonal work transition from Retail to Tourism in January, as tourists begin swarming the beaches to flee the chill in the rest of the country.”
Summary
Most industry sectors in San Diego County experienced both month- and year-over job gains in October, with jobs in seven sectors growing from September 2017 and seven growing since October 2016. San Diego employers have shown a net gain of 13,800 jobs since September 2017 and a gain of 16,600 net jobs since October 2016. Additionally, San Diego’s unemployment rate of 3.7 percent remains lower than the California rate of 4.3 percent.
1Labor force, employment and unemployment are reported by place of residence, including self-employed individuals, unpaid family workers, household domestic workers & workers on strike.
2Jobs data is gathered from employers through the Current Employment Statistics (CES) survey, administered monthly by the Bureau of Labor Statistics. The CES excludes self-employed individuals, unpaid family workers, household domestic workers & workers on strike.
3Employment Development Department (EDD)
4Employment Development Department (EDD)