According to the EDD's research, which recorded preliminary results regarding California's unemployment rates for May, San Diego ranked number six statewide. This ranking signifies that only five other counties in California – San Luis Obispo, Santa Barbara, Marin, Orange and Napa – have higher levels of employment than San Diego. Although San Diego did slip one notch from number five in April, it still ranked in the top 10% of the state – placing ahead of 52 other counties in California.

San Diego actually experienced a very slight decline in unemployment for May, as it dipped to 4.1% from 4.3% in April. With an available labor force of 1,479,800 people, San Diego reported that 60,400 residents were without jobs in May. The other 1,419,400 people were employed, according to the EDD research.

This healthy rate of employment, combined with a steady population growth and diverse economy, is one of the main factors attracting commercial real estate investors to San Diego County.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.