Wednesday, August 1, 2012
SAN DIEGO The index rose for each month in the year's second quarter, although June's increase was only a tenth of a percent. University of San Diego Economist Alan Gin compiles the numbers.
The region's leading economic indicators paint a positive picture for the local economy. The index has now risen eight straight months.
The index said the jobs picture continues to be mixed. Unemployment claims are up, but help wanted advertising climbed for the 18th month in a row. Help wanted ads have reached their highest value since September 2008.
"I think we are going to add jobs," said Alan Gin, University of San Diego economist. "Maybe not at the pace that we would like or we would need to put a big dent in the unemployment rate. But, for now the outlook remains positive."
There's a lot of uncertainty about the national economy and that's one reason Gin's optimism is tempered. A jarring international event could still derail the fragile economic recovery and plunge the country and region into a double dip recession, according to Gin.