San Diego Continues to Create Jobs and Decrease Unemployment Rates

If you’re looking for a new city to call home, consider San Diego. According to a recent article in the San Diego Union-Tribune, San Diego’s economy is doing well. In November, the unemployment rate continued to fall, reaching just 4.8 percent—the national average.

While a large portion of the recent employment growth was attributed to seasonal hiring, it’s still a good sign, experts say. “Despite competition from online sellers, brick-and-mortar retailers ramped up hiring in November to create a job gain of 11,000 from the prior month,” Lynn Reaser, chief economist at the Fermanian Business & Economic Institute at Point Loma Nazarene University, told the Tribune. 

Even better, non-farm employers in the San Diego region created an impressive 5,400 more jobs than were eliminated during the month of November. Overall, California’s rate of employment also dropped by 0.1 percent between October and November, but San Diego’s impressive job creation accounted for nearly the entire state’s gain in November.

Also many of the individuals who were actively looking for work in San Diego in October found jobs November. “In November, it appears as though those people found jobs, as we saw no change in the labor force, but a significant reduction in unemployment,” Phil Blair, chief executive of Manpower San Diego, told the Tribune. 

Many different industries were affected by the 37,800 net non-farm jobs created. Some of the greatest increases occurred in manufacturing (2,400 jobs), construction (6,000 jobs), healthcare (8,600 jobs), professional, technical, and scientific services (7,300 jobs), leisure and hospitality (3,700 jobs) and government (2,900 jobs). The significant gain in healthcare hiring can most likely be attributed to the Affordable Care Act, along with the aging population in San Diego.

Overall, the hiring gain spells out good news for San Diego and MBA candidates looking at a San Diego school for their program. A healthy economy with new jobs and lower unemployment can only be a good thing.

regions: San Diego

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