San Diego Business Journal

San Diego Unemployment Rate Drops to 7.4% for August

Monday, September 23, 2013

San Diego’s unemployment rate dropped to 7.4 percent in August from 7.8 percent in July, buoyed by a net gain of 2,900 jobs in the past month.

The area’s leisure and hospitality sector contributed the largest share of the jobs, 3,300, followed by five other sectors that had net gains.

Three sectors showed monthly net losses: construction, down 1,800 jobs; financial activities, down 1,700; and manufacturing, down 100.

San Diego’s jobless rate was below that of the state, which rose to a seasonally adjusted 8.9 percent in August from 8.7 percent in July. It was above the national rate of 7.3 percent for the same month.

During the 12 months to August, the region’s total nonfarm employment increased by 14,800 jobs, up 1.2 percent.

The three sectors showing the largest annual gains were educational and health services, up 5,300; leisure and hospitality, up 4,700; and professional and business services, up 4,400.

— SDBJ Staff Report