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Thursday, Nov 30, 2023

May Unemployment Dips to 3.8 Percent

San Diego’s employment picture improved in May with the net gain of 5,100 jobs, causing the region’s unemployment rate to decline to 3.8 percent, down from April’s rate of 4 percent, and the prior year’s May of 4.6 percent.

That is according to the state Employment Development Department, which released the information June 17.

An increase of 1,600 jobs in the leisure and hospitality sector as a result of employers boosting staffing for the tourism season was the largest contributor to the net gain.

Construction added 1,100 net jobs, and retail trade increased by 800 jobs during the month for the next largest sectors.

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Government and information were the only categories to show a net loss of jobs, with 300 and 100 respectively.

On a year-to-year basis, the category that had the biggest gain was construction, which increased by 5,000 jobs. About half the growth came in the specialty trades, including electricians, carpenters, painters and other trades.

The next largest growing sectors were leisure and hospitality, 2,600; and government, 2,400.

The only nonfarm industry to record a net loss over the year was manufacturing, which lost 900 jobs. The declines were most felt by computer and electronic product manufacturing, which dropped by 400 positions.

San Diego’s May unemployment rate compared favorably to California’s 5 percent rate, and 4.9 percent for the nation during the same time.

Mike Allen


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