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Report Shows San Diego’s Economy Growing Steadily

Credit: San Diego Regional Economic Development Corporation

This graph shows the decline of the unemployment rate from August 2009-2014 for Riverside, Los Angeles, San Diego, San Francisco, California and the U.S.

Aired 7/16/14 on KPBS News.

The economic indicators measured in the San Diego Regional Economic Development Corporation report are all positive when compared with other large cities.

The economic indicators measured in the San Diego Regional Economic Development Corporation report are all positive when compared with other large cities. The unemployment rate is just more than 6 percent, venture capital funding hit a two-year high topping $242 million and rising home values are helping keep foreclosure rates low.

Michael Combs, who put together the first quarter economic snapshot, said San Diego's job market is among the nation's healthiest.

"We saw the region add 24,800 jobs in the quarter, that being from January to April," Combs said. "Getting rid of some of those seasonal trends and looking at where we are from the previous year, we've added about 28,800 jobs which is about a 2.2 percent increase."

The report ranks San Diego 11th among the nation's 25 largest metropolitan regions.

The study also found:

  • more than a third of the region's residents hold at least a bachelor's degree;
  • more than 13 percent hold advanced degrees; and
  • just more than 2 percent hold doctorate degrees.

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