San Diego Business Journal

Jobless Rate for May Stays Flat

By Mike Allen Monday, June 18, 2012

San Diego’s unemployment rate remained at 8.8 percent in May, holding at the revised rate for April, but 1 point below where it was in May 2011, according to the June 15 report from the state’s Employment Development Department.

The local jobless rate was below the state’s adjusted rate of 10.8 percent but above that of the nation at 8.2 percent.

The region added 6,400 net jobs to the market during the past month, bringing its total nonfarm employment to 1.25 million, compared with 1.23 million in May 2011.

The battered construction industry was the biggest contributor to last month’s gains, adding 1,500 jobs. That segment was led by specialty trade contractors, which made up more than 90 percent of those increases, the EDD report said.

Seven other nonfarm industry segments showed increased hiring led by financial activities with 1,400 jobs, followed by 1,000 jobs in trade, transportation and utilities. About 600 of those jobs came in retail trade.

Government was the only segment that posted a net loss, with 100 fewer jobs in May.

Over the 12-month period from May 2011, the region posted a net gain of 13,400 jobs or 1.1 percent in nonfarm employment, up from the trailing 12-month gain of 9,200 jobs in April.

The gains have come primarily from three segments: education and health services, up 5,400; professional and business services, up 5,300; and trade, transportation and utilities, up 3,900.

Four sectors showed net losses: manufacturing, down 2,300 jobs; government, down 1,200; other services, down 700; and information, down 500.