San Diego records decrease in May 2022 unemployment rate

Category: News
Published: 2022-06-23
San Diego records decrease in May 2022 unemployment rate

SAN DIEGO, CA – The city of San Diego reached a seasonally adjusted annualized unemployment rate of 2.7% during May 2022, according to the California Employment Development Department (EDD), representing a decrease of 0.3 percentage points compared to April of this year.

According to its most recent report, the border city reached a labor force of 1.576.7 million in May, compared to 1.575.1 million in the previous month. Of the total labor force in the fifth month, 1,534,600 had a job, while 42,100 were looking for work.

California’s unemployment rate fell in the month of May 2022 to 4.3 percent, as the state’s employers added 42,900 nonfarm jobs to the economy, according to data released by EDD.

California showed the rate is now only 0.2 percentage points higher than the pre-pandemic unemployment rate of 4.1 percent recorded in February 2020.

According to EDD statistics, California has now recovered 93 percent (2,565,100) of the 2,758,900 nonfarm jobs lost during March and April 2020 due to the Covid-19 pandemic.

Of the 390 thousand U.S. nonfarm jobs gained in May, California accounted for 11 percent of them. In addition, with 869,300 openings, the state had the largest absolute seasonally adjusted employment gain in the country in May 2022.

It was also noted that California has enjoyed monthly increases in nonfarm jobs in 15 of the last 16 months, with a total of 1,481,800 openings during that time period.

Eight of the state’s eleven industry sectors gained jobs in May, with information (8,800) posting the largest increase. The sector’s growth was due in part to increases in the motion picture and sound recording industries.

The leisure and accommodation sector, which suffered some of the largest losses during the pandemic, again showed strong growth, gaining 816,900 jobs since April 2020, after losing nearly one million jobs due to the pandemic. Trade, transportation and utilities suffered the largest one-month job loss (-3,700) due to reductions in retail trade (specifically general merchandise stores).

Source: MEXICO-NOW Staff