San Diego’s Job Situation Darkens

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According to the latest EDD estimates, San Diego’s employment situation deteriorated noticeably in November. The retail industry took the worst of it, turning in a year-over-year decline of 6,400 jobs or or 4.2 percent. (Retail employment actually increased month-to-month, but the increase was very weak compared to the holiday-related surge that takes place in a typical November).

The finance and construction sectors also continued to shrink, shedding 3,800 jobs (4.9 percent) and 6,200 jobs (7.4 percent) respectively in the year to November.

Outside these three sectors, the rest of the local economy eked out a gain of 1,100 jobs or .1 percent. This was not nearly enough to offset the losses in retail, construction, and finance. Total employment across all sectors was down for the year by 15,300 jobs or 1.2 percent.

— RICH TOSCANO