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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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Spring 2018

The San Diego County economy maintained a healthy expansion through the fourth quarter of 2017, and that economic momentum has continued into 2018. The region’s labor market growth has been steady, and the unemployment rate has dropped to its lowest level in 11 years. Home prices have continued to climb, although this is straining affordability for many residents. Home sales have been stagnant as a result of limited supply and falling affordability. However, in response to pent-up demand for housing, single-family building permits have increased over the past year. 

Job Growth To Continue In 2018 

Employment in San Diego grew by 1.9% between February 2017 and February 2018, as total nonfarm employment reached 1.47 million jobs. The region’s employment growth fell somewhat short of California’s, where jobs expanded by 2.3%. Still, the job gains in San Diego helped cut the local unemployment rate by 0.9 percentage points, pushing it to 3.5%. San Diego’s unemployment rate is somewhat lower than the state average of 4.3%.

San Diego’s presence in the Defense, Transportation and Biomedical fields are well known nationwide. The region remains a powerhouse amongst these industries as indicated by...



 

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