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The Big Picture San Diego Blog


August 2017

August 18, 2017

Each month the California Employment Development Department (EDD) releases industry data for the prior month. This edition of San Diego’s Economic Pulse covers July 2017 data, including unemployment, new business establishments and job postings.
 
Highlights include:
  • The unemployment rate increased 0.4 percentage points to 4.7 percent in July.
  • Unemployment increased in 19 out of 19 jurisdictions. Imperial Beach saw the largest increase of 0.6 percentage points.
  • The region’s labor force grew again in July, adding 12,500 workers during the month.
  • Year-over-year, real estate, rental and leasing growth outpaced all other sectors, up 4.9 percent; an increase of 1,400 jobs.  
 
Read the Economic Pulse here.
August 17, 2017

In partnership with the Cyber Center of Excellence and SPAWAR, EDC coordinated a two-day tour for 40 DoD Chief Information Officers (CIOs) from the U.S. and allied nations. The tour is part of an annual best practices trip led by the U.S. to help military and intelligence agency CIOs learn about new commercial technologies in cyber, artificial intelligence, machine learning and nanotechnology. This was the first time that this group has selected San Diego for a best practices trip, typically traveling to Silicon Valley, Boston and New York instead.

The San Diego tour kicked off with an hour and half long conversation hosted at Qualcomm by their CEO Steve Mollenkopf, discussing the impacts of 5G technology. This was followed by a whirlwind of technical presentations from local companies AttackIQ, Qubitekk, Websense, Illumina, FICO, KnuEdge and iboss along with leadership from UC San Diego. Several companies who presented are now working on new projects with key agencies as a direct result of this trip.

 

August 16, 2017

Following seasonal declines in employment during Q1, San Diego experienced an increase in employment during Q2 2017. The region added 14,100 jobs - a 0.98 percent increase in employment during the quarter. Year-over-year, the region added 27,800 jobs, increasing employment by nearly 2.0 percent.

Meanwhile, San Diego’s unemployment rate rose by 0.1 percentage points during Q2, but is 0.6 percentage points lower than the same period a year ago.

Other key findings from EDC's Quarterly Economic Snapshot include:

  • San Diego closed Q2 2017 with an unemployment rate of 4.3 percent, the 15th lowest among top U.S. metros and below the national and state rates of 4.5 and 4.9 percent, respectively.
  • With the summer tourist season approaching, the leisure and hospitality sector recorded the largest quarterly gain, adding 9,300 jobs during Q2.
  • The median home price rose 7.3 percent from the previous quarter, and is now up 8.0 percent compared to a year ago.
  • VC dollars in the region increased 14.9 percent compared to the previous quarter.

The Quarterly Economic Snapshot analyzes key economic indicators that are important to understanding the regional economy and the region’s standing relative to the 25 most populous metropolitan areas in the U.S. This release includes data from April to June (Q2) 2017.

Read it here.

August 14, 2017

We're taking San Diego's story into our own hands and launching San Diego: Life. Changing.: a campaign celebrating the smart and innovative companies and people that call San Diego home.

Before we go live at the Padres Game on September 19, we wanted to show the San Diego community what we've been up to. Cue: the Masters of Change event, August 10.

This was a night of good local food and drinks, a sneak peek of the campaign and remarks from San Diego's number one pitchman himself, Bill Walton. We even mingled with San Diego's very own celebrity chef, Brian Malarkey.

Special thanks to the folks at Alexandria Real Estate for throwing us the party of the century.

Look how much fun we had:

And it's only the beginning...

August 11, 2017

Discover San Diego: Life. Changing. with this pocket guide full of interesting SD facts and a map illustration of the coolest companies in town!

This is the first official 'tool' - debuted last night - from EDC's San Diego: Life. Changing. Campaign.