The Morning Report
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Meanwhile, the rest of the economy slowed its rate of expansion. Up until May, year-over-year employment growth outside the housing beneficiary sectors had been running at about 20,000 jobs. May, however, saw the addition of only 16,100 jobs from the prior year. This was still more than enough to make up for the housing-related losses, but the margin was quite a bit narrower than in recent months.
In total, the San Diego economy added 4,200 jobs — an increase of just 0.3 percent from last May.
I will follow up soon with a more detailed look at what’s going on in San Diego’s various employment sectors.
— RICH TOSCANO