San Diego Economic Indicators by voe14135

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									    San Diego
Economic Indicators
San Diego’s Unemployment Rate* in Comparison

  11%
                        San Diego         Riverside       Los Angeles         Orange County


   9%



   8%



   6%



   5%



   3%
         Sep-07           Nov-07           Jan-08           Mar-08          May-08            Jul-08          Sep-08(p)



 The unemployment rate in the San Diego County was 6.4 percent in September 2008, down from a revised 6.5 percent in August
 2008, and above the year-ago estimate of 4.8 percent. This compares with an unadjusted unemployment rate of 7.5 percent for
 California and 6.0 percent for the nation during the same period.

                                    * 2008 September preliminary; not seasonally adjusted
                                 Source: U.S. Department of Labor, Bureau of Labor Statistics
                            Forecasted by Los Angeles County Economic Development Corporation
                                        Next release date: 11/21/2008 8:30 A.M. (EST)
Total Nonfarm Employment By Industry

           September 2000                  San Diego County                                September 2008
          Total Farm 12,100                                                                Total Farm 11,500
       Total Nonfarm 1,198,800                                                          Total Nonfarm 1,303,200
      Unemployment Rate 3.8%                                                           Unemployment Rate 6.4%
                   0%                                                                              0%
                                                   Natural Resources and
                         6%                    Mining
                                                  Construction                                          6%
             17%
                              10%                                                                            8%
                                                  Manufacturing                              17%

                                                  Trade, Transp.and Util.
 4%                                                                              4%
                                                  Information
                                                                                                                   16%
                                    17%           Financial Activ.
 11%
                                                  Prof. and Business Serv.
                                                                                 13%

                                                  Educational and Health Serv.
                                                                                                                    3%
       10%                            3%
                                                  Leisure and Hospitality              10%
                               6%                                                                             6%
                   17%                            Other Services                                   17%

                                                  Government




                                             (p) 2008 September preliminary
                               Source: U.S. Department of Labor, Bureau of Labor Statistics
                                              Next release date: 11/21/2008
Nonfarm Employment by Industry
      Natural Resources and Mining                Government                                    San Diego County
      Trade, Transportation and Utilities         Professional & Business Services
      Leisure and Hospitality                     Education and Health Services
      Manufacturing                               Construction
      Financial Activites                         Other Services
      Information

250
       Number of jobs, in thousands, not
       seasonally adjusted


200


150


100


 50


  0
           2004                    2005                   2006                   2007                 Sep-08 (p)

                                                2008 September preliminary
                                 Source: U.S. Department of Labor, Bureau of Labor Statistics
                                               Next release date: 11/21/2008
Annual Employment Growth Rates by Industry
       Construction                         Financial Activites                       San Diego County
       Manufacturing                        Trade, Transportation and Utilities
       Natural Resources and Mining         Information
       Professional & Business Services     Leisure and Hospitality
       Other Services                       Education and Health Services
       Government                           Total Nonfarm
10%


 6%


 2%


-2%


-6%


-10%
            2004               2005                 2006                 2007               Sep-08 *


                    Annual % change showing total nonfarm employment growth rates by industry
                                 *12-month % change September 07/September 08
                              Source: U.S. Department of Labor, Bureau of Labor Statistics
                                            Next release date: 11/21/2008
Total Non-farm Job Growth: 12-month % Change
  8%
                                                                                                     San Diego          California        Riverside

  6%


  4%


  2%


  0%


 -2%


 -4%
                         Mar-05




                                                                 Mar-06




                                                                                                      Mar-07




                                                                                                                                          Mar-08
                                      Jun-05




                                                                          Jun-06




                                                                                                               Jun-07




                                                                                                                                                   Jun-08
                                                                                                                                                                     (p)
       Sep-04


                Dec-04




                                               Sep-05


                                                        Dec-05




                                                                                   Sep-06


                                                                                            Dec-06




                                                                                                                        Sep-07


                                                                                                                                 Dec-07




                                                                                                                                                            Sep-08
This graph displays job creation over the past 12 months. California nonfarm payrolls fell by 11,600 jobs in September, following a
12,700-job loss in August (revised). This was the State's 7th consecutive job loss, 8th loss in the last nine months, and 12th loss in
the last 14 months. The State has experienced job losses of 10,000 or more in four consecutive months. From their recent peak in
July 2007 through September 2008, California lost 100,300 nonfarm jobs, or an average of 7,200 jobs a month. Over the last year,
the State has lost 77,200 jobs (0.5 percent). The pace of nonfarm job growth in California has slowed markedly over the last two
years, year-over job losses hovered between 76,000 and 77,700 jobs in each of the last three months. In 2008-to-date, California
has lost 78,600 jobs (0.5 percent), or an average of 8,700 jobs a month. Indications are that California's job losses are increasing.
Over the first five months of 2008, California lost 25,900 jobs, or an average of 5,200 jobs a month. However, the State has lost
52,700 jobs over the last four months, or an average of 13,200 jobs a month.

                                  Annual Job change by sector from September 2007 through September 2008
                                     Source: U.S. Department of Labor, Bureau of Labor Statistics Labor Dept.
                                                  Next release date: 11/21/2008 8:30 A.M. (EST)
12 months Job Change by Sector

 Leisure/Hosp.
  Educ./Health
                             San Diego County
          Govt.
     Prof./Bus.
   Information
        Mining
    Total Farm
   Other Svcs.
        Manuf.
   Transp./Util.
      Financial
 Total Nonfarm                                                                                       Number of Jobs
  Construction
               -7,000     -6,000    -5,000     -4,000     -3,000    -2,000     -1,000       0       1,000      2,000     3,000


This graph displays job creation over the past 12 months. Between September 2007 and September 2008, nonfarm employment
lost 5,100 jobs, a 0.4 percent decline. Construction was down by 6,800 jobs, with over half of the decline occurring in specialty
trade contractors (down 3,900 jobs). Losses were reported throughout all the subsectors in construction. Financial activities, down
by 4,100 jobs year-over, reported nearly even numbers of losses in its main sub-sectors. Finance and insurance lost 2,100 jobs
and real estate and rental and leasing contracted by 2,000 jobs. The three sectors that had the highest employment expansions
year-over were leisure and hospitality (up by 2,800 jobs), educational and health services (up by 2,600 jobs), and government (up
by 2,400 jobs).
                        Annual Job change by sector from September 2007 through September 2008
                            Source: U.S. Department of Labor, Bureau of Labor Statistics Labor Dept.
                                          Next release date: 11/21/2008 8:30 A.M. (EST)
Monthly Job Creation
    8                                                                                                  San Diego County
    4

    0
   -4

   -8

  -12
          Number of Jobs in
  -16
            Thousands
  -20

  -24

  -28
        Sep-07               Nov                Jan                 Mar               May                 Jul              Sep-08 (p)
Between August 2008 and September 2008, nonfarm employment declined by 1,300 jobs to reach 1,303,200. Farm employment
added 300 jobs. Leisure and hospitality declined by 3,700 jobs. A loss of jobs from August to September is a seasonal occurrence
at the end of the summer tourist season. All sub-sectors reported job losses, with the largest decline occurring in arts,
entertainment and recreation (down 2,100 jobs). Trade, transportation, and utilities, down by 1,400 jobs, reported a loss of 300 jobs
in wholesale trade, 1,000 in retail, and 100 in transportation, warehouse, and utilities. Half of the employment lost in retail occurred
in the clothing and clothing accessories stores. Construction lost 1,300 jobs. Sixty-two percent of these (800 jobs) were shed in the
specialty trade contractors sub-sector, where all categories contracted, except building finish contractors (up by 100 jobs). Three
nonfarm sectors reported gains over the month. Government added 5,500 jobs and educational and health services grew by 1,300.
In both sectors, job additions were reported predominantly in education. Within government, local government education added
4,900 jobs in public schools. Private educational institutions expanded their payrolls by 1,000. The third sector to expand over the
month was other services (up 200 jobs).
                                         Job change by industry August 2008 through September 2008
                                      Source: U.S. Department of Labor, Bureau of Labor Statistics Labor Dept.
                                                   Next release date: 11/21/2008 8:30 A.M. (EST)
Monthly Job Change by Industry
 Leisure/Hosp.
 Trade/Transp.
  Construction                                                                              San Diego County
          Total
     Prof./Bus.
  Manufacturin
      Financial
   Information
        Mining
   Other Svcs.
                                                                                                         Number of Jobs
    Total Farm
  Educ./Health
          Govt.
                -4,000     -3,000     -2,000    -1,000        0       1,000      2,000     3,000      4,000      5,000      6,000

Between August 2008 and September 2008, nonfarm employment declined by 1,300 jobs to reach 1,303,200. Farm employment
added 300 jobs. Leisure and hospitality declined by 3,700 jobs. A loss of jobs from August to September is a seasonal occurrence
at the end of the summer tourist season. All sub-sectors reported job losses, with the largest decline occurring in arts,
entertainment and recreation (down 2,100 jobs). Trade, transportation, and utilities, down by 1,400 jobs, reported a loss of 300 jobs
in wholesale trade, 1,000 in retail, and 100 in transportation, warehouse, and utilities. Half of the employment lost in retail occurred
in the clothing and clothing accessories stores. Construction lost 1,300 jobs. Sixty-two percent of these (800 jobs) were shed in the
specialty trade contractors sub-sector, where all categories contracted, except building finish contractors (up by 100 jobs). Three
nonfarm sectors reported gains over the month. Government added 5,500 jobs and educational and health services grew by 1,300.
In both sectors, job additions were reported predominantly in education. Within government, local government education added
4,900 jobs in public schools. Private educational institutions expanded their payrolls by 1,000. The third sector to expand over the
month was other services (up 200 jobs).
                                         Job change by industry August 2008 through September 2008
                                      Source: U.S. Department of Labor, Bureau of Labor Statistics Labor Dept.
                                                   Next release date: 11/21/2008 8:30 A.M. (EST)
Employment by City in San Diego County –
September 2008
                               Area Name             Labor Force   Employment   Unemployment Rate
                               Valley Center CDP     4,100         4,000        2.9%

     Areas in                  Del Mar city          3,000         2,900        3.1%
                               Poway city            28,600        27,500       3.8%
 San Diego County
                               Solana Beach city     8,500         8,200        3.9%
    Sorted by                  Coronado city         8,800         8,500        4.0%
Unemployment Rate              Carlsbad city         48,300        46,300       4.2%
                               Encinitas city        39,300        37,500       4.5%
                               La Mesa city          34,400        32,500       5.3%
                               Santee city           33,200        31,400       5.3%
                               Oceanside city        86,400        81,200       6.1%
                               Bonita CDP            6,800         6,400        6.2%
                               San Diego County      1,573,800     1,473,200    6.4%
                               San Diego city        702,600       657,700      6.4%
                               San Marcos city       31,300        29,300       6.4%
                               Lakeside CDP          11,100        10,400       6.5%
                               Escondido city        73,300        68,400       6.7%
                               Spring Valley CDP     15,000        13,900       6.8%
          Source:
   Employment Development      Vista city            49,000        45,500       7.1%
      Department (EDD)
                               Fallbrook CDP         14,500        13,400       7.4%
     Next release date:
  11/21/2008 8:30 A.M. (EST)   Chula Vista city      92,000        85,100       7.5%
                               Lemon Grove city      13,800        12,700       8.0%
                               El Cajon city         52,800        48,100       8.8%
                               Imperial Beach city   13,800        12,400       10.5%
                               National City         24,000        21,000       12.6%
Regional Roundup - September 2008
                                                        Median Home      2007 Median
                                     Region                Price      Household Income
San Diego County                     Carlsbad            $629,500         $95,299
                                     Chula vista         $377,500         $71,298
                                     Coronado            $1,475,000       $96,103
                                     Del Mar             $1,155,000       $113,407
                                     El Cajon            $320,000         $51,873
                                     Encinitas           $943,000         $90,444
                                     Escondido           $302,250         $62,396
                                     Imperial Beach      $294,000         $50,251
                                     La Mesa             $372,500         $59,641
                                     Lemon Grove         $275,000         $60,050
                                     National city       $187,500         $44,130
                                     Oceanside           $319,500         $65,785
                                     Poway               $450,000         $99,889
                                     San Diego City      $474,000         $65,238
                                     San Diego County    $396,500         $68,388
            Source:                  San Marcos          $421,350         $70,781
 San Diego Association of Realtors
   San Diego Daily Transcript        Santee              $326,000         $78,250
     October 24th, 2008 Issue
                                     Solana Beach        $1,312,500       $109,203
                                     Vista               $380,000         $63,162
Privately-Owned Building Permits
                  Single Family       Multi Family
                                                                                                      San Diego County
12,000

10,000

 8,000

 6,000

 4,000

 2,000

     0
         1990        1992         1994        1996        1998         2000        2002        2004         2006     2008YTD


By tracking the issuance of permits, one can get a sense of how much and where future construction activity will take place. The
building of single-family houses is by far the largest component of the three (single family, residences with two to four apartments
or units and structures with five or more units) accounting for 75 percent of total home building. As of September 2008, a total of
1,893 new privately-owned residential building permits - single family and multi family - were issued in San Diego County year-
to-date (January – September 2008) compared to 3,034 permits issued in 2007 year-to-date (January – September 2007).

                                  Annual New Privately-Owned Residential Building Permits
                                                 2008YTD as of August 2008
                                                 Source: U.S. Census Bureau
                                        Next release date: 11/15/2008 8:30 A.M. (EST)
Privately-Owned Multi Family Building Permits
1,200                                                                                                 San Diego County



 800




 400




    0
        1990        1992        1994         1996        1998         2000        2002         2004        2006      2008YTD


By tracking the issuance of permits, one can get a sense of how much and where future construction activity will take place. The
building of single-family houses is by far the largest component of the three (single family, residences with two to four apartments
or units and structures with five or more units) accounting for 75 percent of total home building. As of September 2008, a total of
134 new privately-owned multi family building permits were issued in San Diego County year-to-date (January – September
2008) compared to 255 multi family permits issued in 2007 year-to-date (January – September 2007).

                                  Annual New Privately-Owned Residential Building Permits
                                               2008YTD as of September 2008
                                                 Source: U.S. Census Bureau
                                        Next release date: 11/15/2008 8:30 A.M. (EST)
 Median Home Prices in September 2008
                                                       September Median      Change      Change from
                                    Region                Home Price      from August   September 2007

San Diego County                    National City          $187,500        -$32,500       -$222,500
                                    Lemon Grove           $275,000          $7,550         -$88,750
                                    Imperial Beach        $294,000         -$81,000       -$156,000
                                    Escondido              $302,250        -$32,750       -$207,750
                                    Oceanside              $319,500        -$20,500       -$175,500
                                    El Cajon               $320,000           $0          -$136,250
                                    Santee                 $326,000        -$39,000       -$104,000
                                    Unincorporated         $334,000        -$15,500        -$92,000
                                    La Mesa                $372,500        -$18,725       -$107,750
                                    Chula Vista            $377,500         -$7,500       -$133,950
                                    Vista                  $380,000         $30,000        -$76,000
                                    San Diego County       $396,500         $16,500       -$107,500
                                    San Marcos             $421,350         -$4,400       -$150,650
                                    Poway                  $450,000        -$105,000      -$420,000
                                    San Diego City         $474,000         -$3,250        -$75,000
                                    Carlsbad               $629,500        -$68,750       -$201,750
           Source:
San Diego Association of Realtors
                                    Encinitas              $943,000         $83,000        $145,750
   San Diego Daily Transcript       Del Mar              $11,550,000      -$4,045,000     -$945,000
    October 31st, 2008 Issue
                                    Solana Beach          $1,312,500       -$327,500        $437
                                    Coronado              $1,475,000       $156,500        -$25,000
San Diego Region’s Venture Capital Investments
                                                                                                     San Diego Region
                                              $ Invested        Number of Deals

   $2,500                                                                                                                  250

             Millions

   $2,000                                                                                                                  200



   $1,500                                                                                                                  150



   $1,000                                                                                                                  100



     $500                                                                                                                  50



       $0                                                                                                                  0
             1996             1998             2000             2002              2004            2006           2008YTD


In the third quarter of 2008, investments in San Diego region totaled $178.4 million or 22 deals, down from $374.1 million or 38
deals in the second quarter of 2008. Year-to-date total venture capital invested in the San Diego region totaled $993.8 million or
100 deals.
                                      San Diego Region’s Venture Capital Investments
                                     Source: Money Tree Report by PricewaterhouseCoopers
                                         and National Venture Capital Association (NVCA)
                                                    2008YTD as of 3Q 2008
                                          Next release date: 1/20/2009 8:30 A.M. (EST)
San Diego Region’s Venture Capital Investments in Comparison
      South Central
            AK/HI/PR
                                                                                                       3Q 2008
 Sacramento/N.Cal
         Upstate NY
         SouthWest
          San Diego                          $178.4 Million
      DC/Metroplex
            Colorado
      North Central
           Southeast
 Philadelphia Metro
              Texas
           Northwest
             Midwest
            NY Metro
LA/Orange County
      New England
      Silicon Valley                                                                                                  $2,773M

         Millions $0      $100     $200     $300      $400     $500      $600     $700     $800      $900    $1,000


 In the third quarter of 2008, investments in San Diego region totaled $178.4 million or 22 deals. In comparison, Silicon Valley
 attracted $2.7 billion, New England attracted $834 million and the LA/Orange County Region attracted $572 million. The total
 venture capital invested nationwide in the third quarter was $7.1 billion down from $7.7 billion in the second quarter.

                                    Source: Money Tree Report by PricewaterhouseCoopers
                                       and National Venture Capital Association (NVCA)
                                                Next release date: 1/20/2009

								
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