Government

Housing

Environment

Education

Economics

Sports

Letters

	SUPPORT US TODAY
	DAILY NEWS ALERT
	RSS FEEDS

May Jobs

E-MAIL STORY

The employment sectors that benefited from our erstwhile housing boom, while having experienced seasonal growth in recent months, continue to shed jobs based on a year-over-year comparison. Between May 2006 and May 2007, the construction industry lost 6,900 jobs, retail lost 1,800 jobs, and finance and real estate gave up 3,200 jobs. The three sectors shed 11,900 jobs between them.

Meanwhile, the rest of the economy slowed its rate of expansion. Up until May, year-over-year employment growth outside the housing beneficiary sectors had been running at about 20,000 jobs. May, however, saw the addition of only 16,100 jobs from the prior year. This was still more than enough to make up for the housing-related losses, but the margin was quite a bit narrower than in recent months.

In total, the San Diego economy added 4,200 jobs -- an increase of just 0.3 percent from last May.

I will follow up soon with a more detailed look at what's going on in San Diego's various employment sectors.

-- RICH TOSCANO

A Nerd's Eye View

Rich Toscano is a financial advisor with Pacific Capital Associates*;
he also writes about San Diego real estate at Piggington's Econo-Almanac. Contact him at rtoscano@pcasd.com.

Recent Nerd's Eye Post

It's Not a Subprime Problem (June 28)

A New Flavor of Mortgage Trouble (June 28)

Where the Jobs Are, May Edition (June 22)

May Jobs (June 21)

May Foreclosure Activity (June 18)

Yet More Confusion at the Transcript (June 11)

May Housing Supply and Demand (June 11)

May Home Prices (June 8)

March Case-Shiller HPI (June 3)

*Investment advisory services and securities offered through Girard Securities, Inc., member SIPC/FINRA.

This Just In

Hoop It Up:

More details on National City's hoop dreams.

Thursday, June 28 -- 5:53 pm

20-Gallon Challenge:

Water Authority asks for conservation to combat effects of dry year.

Thursday, June 28 -- 3:57 pm

School District: $600M Maintenance Backlog:

San Diego Unified lays out plan for making a down payment on facilities upgrades.

Thursday, June 28 -- 11:49 am

County's Assessed Value Nears $400B :

County assessor releases newest assessments for property values.

Thursday, June 28 -- 5:04 pm

LETTERS TO THE EDITOR

The Mayor's Lousy Advice:

Though what Sanders has sought to do may be exactly what a mayor would otherwise be expected to do, he will be seen by the public as part of the continuing conspiracy

Thursday, June 28 -- 3:26 pm

CAFÉ SAN DIEGO

Scratching Each Others Backs :

If you choose to live in a metropolitan area, you have to accept the fact that your tax dollars are going to support activities and areas that you do not use.

Thursday, June 28 -- 6:28 pm

COMMENTARY: SLOP

Roundup:

The Nimitz in India and how rhetoric can change in six weeks.

Thursday, June 28 -- 1:04 pm

COMMENTARY: RICH TOSCANO

It's Not a Subprime Problem :

The foreclosure crisis isn't about credit scores -- it's about high-risk loans.

Thursday, June 28 -- 11:46 am

SEDC Responds to Mayor's Inquiry:

Memo details bonuses and additional compensation of all employees.

Friday, July 18, 2008 -- 6:37 pm

Board Member Blasts Smith:

'The culture of SEDC over the years has been to manipulate, cajole, ignore and intimidate the board into utter and complete silence.'

Friday, July 18, 2008 -- 5:32 pm

Smith Not Resigning:

SEDC president resists the call for her to step down.

Friday, July 18, 2008 -- 5:08 pm

Another Jump for Unemployment Rate:

County jobless rate nears 6 percent.

Friday, July 18, 2008 -- 12:29 pm