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San Diego County, CA : Industrial Snapshot - Q1 2014

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San Diego County, CA : Industrial Snapshot - Q1 2014

A milestone was reached in San Diego during the first quarter of 2014. As of February, the county has recouped all 99,400 jobs that were lost during the Great Recession, making it the largest Southern California metro to reach that landmark. While the San Diego economy certainly improved, it still has room for more progress. Despite record-setting payroll employment of 1,331,200 in February, many of the jobs added since the recession are part-time and in low-paying sectors. Additionally, the labor force has increased by 4.2% over the last few years—much faster than the 0.5% growth in payroll employment—leaving San Diego with an unemployment rate slightly higher than pre-recession (7.0% for February 2014); however, with the end of sequestration and continued growth in tourism and biotech industries, San Diego will continue to add more middle- and high-wage jobs.

Source : Cushman & Wakefield

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