San Diego Snapshot – May 29

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San Diego County unemployment rate drops to
an 18 year low at 3.2 percent

  • In the first quarter of 2018, San Diego County hit an 18 year low unemployment rate of 3.2%. The market’s unemployment rate has been under 4% for the last 7 months. San Diego County is still behind other primary California markets such as Orange County at 2.8%, San Francisco County at 2.4%, San Mateo County at 2.2%, and Santa Clara County at 2.6%.
  • The San Diego job market has added an additional 207,220 jobs since 2000 (the last time the unemployment rate was this low), as well as added 54,250 more jobs (46 percent increase) since the last economic cycle rally from 2000 to 2008. The job market demand from the health care industries have played a big role in the robust job market growth, rising by 44.4 percent in the last ten years.
  • From comparison to the last peak of 2008, San Diego has added 88,100 jobs in the last 10 years. The 2009-2010 economic downturn saw a significant reduction in job totals from the Great Recession, resulting in a record county high 10.8 percent unemployment rate.

Patrick Ashton
Senior Research Analyst
858 410 6346

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