The San Diego Monthly Employment Report (January 2017 to February 2017) shows an increase in employment and decreases in the civilian unemployment rate and labor force.
The California Employment Development Department (EDD) reported a decrease in San Diego’s unemployment rate from a revised 4.5 percent in January to 4.2 percent in February, remaining below the year-ago estimate of 4.8 percent.
The 4.2 percent unemployment rate is below the lowest February unemployment rate experienced in the region over the last 10 years (4.3 percent in 2007).
Seven sectors reported month-over gains. Professional & Business Services recorded the largest job gains adding 3,200 jobs to the economy, with 63 percent of this growth coming from Administrative and Support Services.1 Other industries that showed increases include Government (up 2,400), Educational & Health Services (up 2,100) and Construction (up 1,700).
Only two sectors reported month-over job losses. Trade, Transportation & Utilities continues to experience the largest month-over employment losses with 3,500 jobs. Nearly 97 percent of the losses in this sector came from Retail Trade (down 3,400), due to the decline of seasonal holiday workers.2 Additional losses were seen in Financial Activities, down 600 jobs. Manufacturing was the only sector that experienced no month-over change.
“San Diego is back on track for job growth,” says Phil Blair, Executive Officer, Manpower Staffing/San Diego. “But retail jobs will keep declining until March before they pick up again. We need to pay attention to where the jobs are growing and if you are in the retail sector, prepare yourself now for the jobs of the future.”
Between February 2016 and February 2017, eight sectors experience year-over gains. Government experienced the greatest year-over gain, adding 6,900 jobs to the region. Most of this growth continues to come from gains in local government, concentrated in local education. Other industries that showed increases in the thousands include Educational & Health Services (4,800 jobs), Professional & Business Services (4,400 jobs), Construction (4,000 jobs), Financial Activities (3,000 jobs), Leisure & Hospitality (1,900 jobs) and Other Services (1,900 jobs).
Trade, Transportation & Utilities was the only sector to show year-over losses, down 300 jobs. Manufacturing experienced no year-over change.
The majority of industry sectors in San Diego County experienced both month- and year-over job gains in February, with jobs in seven sectors growing from January 2017 and eight growing since February 2016. Additionally, San Diego’s unemployment rate of 4.2 percent remains lower than the California rate of 5.2 percent.
1Employment Development Department (EDD)
2Employment Development Department (EDD)