Skip to main content

LATEST UPDATES: Tracking COVID-19 | Transfer Of Power | Racial Justice

What’s Ahead For San Diego’s Economy In 2016

We're sorry. This audio clip is no longer available. A transcript has been made available.

Photo credit: kpbs

Marney Cox, chief economist, San Diego Association of Governments

Overall the economic news at the end of 2015 was positive. The unemployment rate dropped to 4.8 percent in San Diego County, and the nation saw modest economic growth.

But experts are seeing curious things in the economy. On the first trading day of the year, global stock markets sank as worries about China's economy continue.

So how will the global economy impact San Diego? What will the county's economic picture look like in the new year?

Marney Cox, chief economist with the San Diego Association of Governments, said the good news should continue for the region. He said the local economy during 2016 is expected to outpace the national and state economies, with more than 30,000 new jobs — equal to a 2 percent growth rate. Most of that growth is expected in the education and health services, business services, leisure and hospitality, and construction sectors.

Cox also said San Diego County will likely have an unemployment rate of around 4.5 percent.

But he warned the nation's GDP growth will remain sluggish in 2016, as will wage growth. That could contribute to more economic inequality across the country.

FEATURED PODCAST

San Diego News Now podcast branding

San Diego news; when you want it, where you want it. Get local stories on politics, education, health, environment, the border and more. New episodes are ready weekday mornings. Hosted by Anica Colbert and produced by KPBS, San Diego and the Imperial County's NPR and PBS station.

  • Need help keeping up with the news that matters most? Get the day's top news — ranging from local to international — straight to your inbox each weekday morning.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Midday Edition banner

KPBS Midday Edition is a daily radio news magazine keeping San Diego in the know on everything from politics to the arts.

Want more KPBS news?
Find us on Twitter and Facebook, or sign up for our newsletters.

To view PDF documents, Download Acrobat Reader.