Employment Rising in San Diego County

SAN DIEGO, CA-The high employment levels that aid in keeping the San Diego County real estate market stable are still on the rise, as a new report issued by the California Employment Development Department shows a 0.7% decline in joblessness from July 2004 to August 2004. According to the newly released EDD research, San Diego County had an unemployment rate of 3.7% for August 2004. A figure this low has not been recorded for the region since December 2003, when it was reported as 3.6%. Over the past eight months of this year, the county’s unemployment level has mainly hovered at 4.0% or slightly higher. It has only dipped under 4.0% three times, dropping to 3.9% for the two months of April and May and then falling to the aforementioned rate of 3.7% in August. For August, the area of the county that has experienced the lowest rate of unemployment is Casa de Oro–Mount Helix, with a level of 2.1%. Out of a total labor force of 20,710 people here, 20,280 residents are working and 430 are without jobs. The area that has recorded the highest rate of unemployment for the same period is National City, with a level of 6.9%. Here, the total labor force is 24,270 residents, with 23,020 employed and 1,700 not working. The EDD’s August findings on San Diego County show that 57,400 people are out of work countywide, while 1,478,200 are employed. As of August 2004, the region had a labor force of 1,535,700 residents. “Total nonfarm wage and salary employment in San Diego County rose by 4,200 jobs between July and August 2004, bringing the total number of nonfarm payroll jobs to 1,261,200,” according to the EDD report. The research points to an addition of 1,100 jobs in the professional and business services sector; 1,000 jobs in the leisure and hospitality industries; 900 jobs in transportation and utilities; 600 jobs in financial activities; and 300 jobs in educational and health services. The natural resources, mining, information and other services industries had no change in jobs for the month of August, while the government reported a loss of 700 jobs and manufacturing a loss of 500 jobs. When it comes to the state of California’s unemployment levels, San Diego County has been rated six out of 58 counties statewide for the month of August, trailing Marin, Orange, San Louis Obispo and Santa Barbara at 3.2%, and San Mateo at 3.6%. The state’s overall joblessness rate is 5.7%, with 16,731,000 residents working and 1,011,300 unemployed out of a total labor force of 17,742,300.