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The Big Picture San Diego Blog


Quarterly Economic Snapshot

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.

May 31, 2017

According to EDC’s newly released Quarterly Economic Snapshot, the region added 29,600 jobs year-over-year, a 2.1 percent increase in total employment since Q1 2016. However, the San Diego region saw a quarterly decline of 10,900 jobs, primarily due to seasonal workers transitioning out of retail following the holiday season.

Meanwhile, San Diego’s unemployment rate rose by 0.1 percentage points during Q1 2017, but is 0.7 percentage points lower than the same period a year ago.

Key findings from the snapshot:

  • San Diego closed Q1 2017 with an unemployment rate of 4.2 percent, the 14th lowest among top U.S. metros and below the nation’s and state’s rates of 4.6 and 5.1, respectively.
  • The construction sector saw the largest quarterly and year-over-year growth in employment, adding 2,800 and 5,700 jobs, respectively – indicative of the overall health of the economy.
  • The median home price fell 0.7 percent from the previous quarter, but is still up 5 percent compared to a year ago.
  • VC dollars in the region increased 15.2 percent compared to the previous quarter.

Kirby Brady, San Diego Regional EDC research director, explains, “A small uptick in unemployment and slowing home price appreciation are to be expected in the winter months. However, when you look at the overall trends, San Diego appears to be reaching full employment and real estate remains a seller’s market. If these trends continue, we’ll start to see wages rise.”

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 releases includes data from January to March (Q1) 2017. 

Read it here.