The annual change in the number of people employed at San Diego companies improved again last month. Between November 2008 and November 2009, local companies shed 52,200 jobs, a decline of 4.0 percent. Which, as miserable as it may sound, is the best year-over-year job number in six months:
The above chart, as discussed earlier this week, denotes the number of people on the payrolls of local companies regardless of where those employees may live. This next chart shows that while the prior series continued to improve year-over-year, its counterpart — the number of San Diego residents who are employed — saw its annual change hit a new low:
It is the latter data that is used to calculate local unemployment, which came in at 10.5 percent:
The second chart indicates that San Diego’s businesses suffered worse than its residents in 2008. For the time being, it appears that those roles have been reversed.
— RICH TOSCANO