According to a December report by the State of California Employment Development Department, San Diego County's unemployment level has declined from 4.3% in October 2003 to 4% last month. For the month of November, San Diego County has reported a labor force of 1,503,500 people, with 1,443,000 workers employed and 60,400 residents out of work. Even more telling is the region's rating of number four in the state when it comes to employment levels, which means that only three other counties in California - San Luis Obispo, Marin and Orange - have lower levels of unemployment. Fourth place statewide is a significant improvement for San Diego, which ranked as number eight in October.

As usual, San Diego County boasts a much lower unemployment rate than the state total, which has been reported as 6.3% for the month of November. Statewide, there was a labor force of 17,686,000 workers last month, with 16,563,100 residents employed and 1,122,900 people without jobs.

San Diego County's low unemployment rate and diverse economy continue to draw a steady flow of migrants to the region, which keeps occupancy rates high when it comes to most sectors of the county's commercial real estate market. As a result, the region continues to house some of the most sought after commercial real estate product in the country.