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Beacon Economics provides customized five-year data forecasts for variables including:
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CONTACT: Sherif Hanna
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Summer 2018

The San Diego County economy has continued on its growth trajectory during the first half of 2018. Local employment numbers are increasing and the region’s unemployment rate is falling. Home prices also continue to rise, but home sales are declining due to mounting affordability challenges. Residential building permits are up, but the increased stock will only limit, not reverse, the upward trend in San Diego’s home prices. 

Healthy Economic Growth Continues

With a total of 1.48 million workers, nonfarm employment in San Diego expanded by 2.2% between April 2017 and April 2018. The region’s employment growth outpaced Orange County (+1.8%) and Los Angeles County (+1.3%) over the past year but lagged the Inland Empire (+3.1%). More job openings also translated into a declining unemployment rate, which fell by 1 percentage point to 3.1%. San Diego now has one of the lowest unemployment rates in the broader Southern California region, lower than Los Angeles (4.4%) and the Inland Empire (4.1%), although higher than Orange County (2.8%).

San Diego’s Professional and Business Services sector added 14,100 positions, accounting for almost half of...


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