SD Office Employment Update | May 2016

0 CommentsBy

Office-Employment-update-May-2016-1

Office-Employment-update-May-2016-2

San Diego employment continues to increase as total non-farm employment grew by 36,900 jobs, or 2.7 percent year-over-year. The latest employment update highlights the continued trend of employment growth and jobs continuing to be created in the market.

  • Educational and Health Services recorded the greatest year-over gain with 7,100 jobs, followed by Leisure and Hospitality which increased by 6,200 jobs. Between the two sectors, a total of 13,300 jobs were added since April 2015. No major sector recorded a year-over-year decrease in jobs.
  • San Diego’s unemployment decreased to 4.5 percent from a revised 4.7 percent in March.

Office real estate implications

We are currently seeing local year-over-year job gains in nearly every sector, with the greatest gain in the educational & health services sector. None of the office using employment sectors have seen year-over-year losses, and demand for office space has endured.

 

Leave a Reply

Your email address will not be published. Required fields are marked *