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San Diego County’s Leading Economic Indicators Up In September

An index of San Diego County's leading economic indicators rose 0.6 percent in September, compared to 0.1 percent decline in August, according to figures released today by the University of San Diego Burnham-Moores Center for Real Estate today.

August marked the first dip of the year. By contrast, the index for September was 122.3, the highest mark since March 2008.

All six components of the index were up, USD Professor Alan Gin said.

The strongest gains were in the number of residential building permits issued, up for the seventh month in a row and 14.6 percent higher than September of 2011, according to Gin.

Gin said the strong increase and positive performance of all six components alleviated some concerns he had about the August report.

"The local economy continues to be sound, particularly in terms of employment when compared to 2011,'' Gin said.

San Diego County has gained 28,000 nonfarm jobs since September 2011, he said.

According to Gin, the volume of help wanted advertising increased for the 21st month in a row, consumer confidence was higher for the ninth time in 10 months, and local stock prices ended the third quarter of the year up 7 percent over the same period in 2011, though it lagged the 10 percent increase in the Dow Jones Industrial Average and a 19.6 percent gain in the NASDAQ composite.

The outlook for the national economy continues to be mixed, with advances too small to improve the job picture significantly, he said.

Comments

Avatar for user 'dboquet'

dboquet | November 3, 2012 at 6:04 a.m. ― 2 years, 1 month ago

Housing prices are a very local analysis. Looking at the Economic Indicators put out monthly by Alan Gin at USD is a great resource. The report shows several sectors of our local enocomny, in order to provide a local snapshot and it give a good idea where our local economy is trending. The local enconomy direclty impacts home values here in San Diego.In the local San Diego Real Estate market, we have experienced low inventory this year. This creates a demand on the inventory and we are seeing some price increases in certain areas. To determine your homes values you need to look at several factors in your specific neighborhood, your homes condition and offerings in realation to most recent sold data.
You can email us questions regarding this post, your home values, or local real estate comments.

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Avatar for user 'HarryStreet'

HarryStreet | November 3, 2012 at 10:14 a.m. ― 2 years, 1 month ago

What's disappointing about job growth is the number of low-paying jobs included in this number. They far outnumber the jobs offering a career that provides us a middle class standard of living.

We are all hearing how the president and GOP candidate want to improve the middle class, but they don't disclose how they will.

Businesses are in the business to make money. Unless they are forced to pay employees a living versus minimum wage, all of us will see our income decline and taxes rise.

We need to stick together and demand laws be put in place guaranteeing living wages same as we have tax laws, minimum wage laws and the like. Giving businesses tax breaks is a start. I know first hand the city laws make it difficult to run and operate a business. Workers Comp is a joke, business licenses continue to rise in price, business codes are way overboard.

If you don't think this affects you think again!

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