March 3, 2017
Understanding our economy begins with strong data. Lucky for us, Feb/March means lots of it.
A little about the research products released this week:
Quarterly Economic Snapshot: February
Every quarter, San Diego Regional EDC analyzes key economic indicators that are important to understanding the region's standing relative to the 25 most populous metropolitan areas in the U.S. The Economic Snapshot covers data from October to December 2016 (Q4), the most recent quarter available, in regard to employment, real estate and venture capital.
Release time: Data from the previous quarter is available at the end of the second month of the current quarter (e.g. data from Q4 2016 is released late Feb. 2017; data from Q12017 will be released late May 2017)
San Diego's Economic Pulse: March
Monthly, the California Employment Development Department releases countywide employment and unemployment data. However, we know unemployment is only a small sliver of understanding our economy. EDC supplements this report by adding information on who's hiring, business establisments and job postings.
Release time: The California Employment Development Department typically releases the previous months data on the third Friday of every month (e.g. Data from April 2017 will be release on May 19, 2017). However, the first few months of the year are on a revised schedule, as January is subjected to seasonal changes as some service sectors wind down from the holidays and other data is being adjusted from the previous year. Therefore, January's data was released on March 3, 2017.
October 9, 2014
Every quarter, San Diego Regional EDC analyzes key economic metrics that are important to understanding the regional economy and San Diego’s standing relative to other major metropolitan areas in the U.S.
This issue covers data from April 2014 - July 2014.
San Diego County’s July 2014 unemployment rate was down 1.4 percentage points from July 2013.
Private employment in San Diego grew by more than 3.2 percent from July 2013 to July 2014.
The region added 36,400 jobs since last July - 35,400 of which came from the private sector.
San Diego has the highest percentage of bachelor’s degree holders with a STEM degree among major regional peers.
2014 year-to-date net absorption of industrial real estate is the best mid-year performance since 2008.
July’s 2.02 percent foreclosure rate marks the lowest rate in San Diegosince July 2006, making it an eight-year low for the region.
Biotechnology companies continued to receive larger sums in 2014, with two-thirds of all activity going toward Biotech in Q2.
Check out the complete Economic Snapshot here...
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April 11, 2014
Every quarter, San Diego Regional EDC analyzes key economic metrics that are important to understanding the regional economy and San Diego’s standing relative to other major metropolitan areas in the U.S. This issue covers data from the October 2013 to January 2014 quarter.
In this issue, EDC presents updates on trends in employment, real estate and venture capital, with a special spotlight on the cybersecurity industry
in San Diego. The spotlight revealed details of a recent San Diego industry study on the subject, including employment trends and company reactions.
San Diego County’s January 2014 unemployment rate was down 1.6 percentage points from January 2013.
The San Diego region added 25,900 jobs from January 2013 to January 2014.
San Diego had the third lowest foreclosure rate among recorded major U.S. metropolitan areas in January 2014.
Led by the manufacturing industry, industrial tenants absorbed 2.3 million square feet in 2013.
San Diego firms were involved in 23 venture capital deals in Q4 2013 and received more than $145 million in venture capital funding.
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October 15, 2013
EDC’s economic snapshot shows that San Diego’s economy is gaining steam. From April 2013 to July 2013, the San Diego region added 13,000 private sector jobs. Although the metro’s unemployment rate still stands slightly above the national average, San Diego experienced one of the largest year-over-year declines in the U.S. from July 2012 to July 2013. Only four major U.S. metros – Seattle, Tampa, Detroit and Riverside - experienced a greater decline over that period.
Here’s how the numbers in the snapshot broke down:
Private businesses added approximately 13,000 jobs in the quarter. Hospitality and tourism added the highest number of jobs this quarter, with 7,600. Construction industry added 4,100 jobs in the quarter, which is likely due to many major construction projects ramping up in the summer season. With the recently-approved expansion of the San Diego Convention Center (not included in these numbers), the region will add nearly 7,000 hospitality and tourism jobs and 3,000 construction jobs in a future quarter.
This quarter, the snapshot took a closer look at the Sports and Active Lifestyle industry, based on a report that was recently released. With companies including Taylormade, Sector 9 and other well-known products, San Diego is a designated leader in this important sector. The report found that the industry’s economic impact is equivalent to hosting four Super Bowls annually.
San Diego’s foreclosure rate remained lower than the U.S. average in July2013, with only 2.31 out of every 10,000 homes foreclosed during that month
All major metros nationwide experienced positive growth in home prices over the quarter and the year, a symptom of the resurging US real estate market. From Q1 2013 to Q22013, home prices grew about 13.7 percent in the San Diego region.
The quarterly snapshot reports on key economic metrics that are important to understanding the regional economy and San Diego's standing relative to other major metropolitan areas in the U.S. The snapshot only reported on data through Q2 2013. Amidst the current government shutdown, we can only hope that there’s data next quarter to produce a new snapshot.
You can find the complete snapshot here.
The economic snapshot was made possible by Chase
July 29, 2013
Aerospace is part of a large and thriving Aerospace, Navigation & Maritime Technologies (ANMT) cluster in San Diego. Among the 25 most populous U.S. metropolitan areas, San Diego ranks second in the concentration of ANMT employment behind longtime aerospace leader Seattle.
The cluster accounts for more than 20 percent of San Diego’s innovation economy, more than any other cluster except Information and Communication Technologies. San Diego’s growing unmanned aerial systems (UAS) sector presents a unique opportunity for companies in the Aerospace industry, with cutting-edge applications being developed in San Diego and throughout California. Currently, 60 percent of U.S. technology development in unmanned systems is performed in San Diego County, according to National University System Institute for Policy Research. With the rise in commercial and consumer uses, this industry sector is well positioned to carry the aerospace industry forward and continue to attract top engineering talent to the region.
Since the aerospace industry shares many components with other industries in the ANMT cluster, it is difficult to break down aerospace companies and employment from the rest of the cluster. Some of the key aerospace-specific components of the cluster include: Search, Detection, Navigation and Guidance; Aeronautical and Nautical System and Instrument Manufacturing; Aircraft Manufacturing including Aircraft Engine and Engine Parts Manufacturing; and Guided Missile and Space Vehicle Manufacturing. San Diego Regional EDC analyzes key economic metrics that are important to understanding the regional economy and San Diego's standing relative to other major metropolitan areas in the U.S. For more information about San Diego’s aerospace industry and the full run down on how San Diego is faring compared to other major metropolitan regions, see the July 2013 Economic Snapshot.
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