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The year 2011 was a positive one for San Diego employment.  The number of local jobs rose in absolute terms…

…but the more important seasonally-adjusted data shows that employment rose even when accounting for holiday hiring:

The red line in the above graph shows that employment rose rather steadily in 2011, with the job recovery picking up the pace a bit in the latter half of the year.

Overall employment rose by 2.2 percent on a year-over-year basis, which is the annual highest rate of job growth since the recession began:

In fact, this was the highest annual job growth that the region has seen since the dot-com boom.  This pace will need to continue for a while, however, in order for the region to recapture peak employment levels any time soon:

This last graph sums up the situation nicely: the San Diego job market enjoyed some brisk growth in 2011, but there is still a way to go before we are fully recovered from the 2008-2009 employment swan dive.

Rich Toscano is a financial advisor with Pacific Capital Associates*.  He can be contacted at rtoscano@pcasd.com.

Rich Toscano

Rich Toscano has been observing the housing market for Voice of San Diego, with the occasional prolonged absence, since 2006. Follow him on Twitter at...

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