SAN DIEGO, CA – Although San Diego’s unemployment rate remained at 4.7% during the month of February 2024, its annualized standout rate reported a slight increase, the California Employment Development Department (EDD) reported.
The city showed an increase of one percentage point from the 3.7% achieved in February 2023, when it reported a labor force of 1.6 million people, of which 1.541.3 million had a job and 58,800 citizens were looking for one.
According to its most recent report, the border city reached a labor force of 1,602,200 people in February 2024. Of the total labor force in the second month, 1,526,100 people had a job, while 76,100 were looking for a job.
San Diego’s February unemployment figure increased to 17,300 more than those counted in February 2023.
California’s unemployment rate increased to 5.3% in February 2024, up from 5.2% in January, with a loss of 3 thousand 400 nonfarm jobs. In addition, the state’s January nonfarm jobs estimate was revised downward by 32,500 jobs to a total increase of 25,600 for that month.
According to EDD, California’s labor market expansion turned 46 months old in February 2024. The state has gained 3,037,600 jobs since the pre-pandemic peak in February 2020, which is an average of 66,035 per month.
Four of California’s 11 industry sectors gained jobs in February with Private Education and Health Services gaining more than 15,400 jobs, again with the largest month-over-month gain thanks to strength in Other Health Care Professionals (such as acupuncturists and dietitians), as well as Home Health Care Services and Individual and Family Services.
In addition, notable month-over-month losses were seen in Construction, with 9,600 fewer jobs, thanks to employment reductions in several industry subsectors due, in part, to disruptions caused by the multiple “atmospheric river” storms that hit the state throughout the month.
Trade, transportation and utilities also experienced a decline by losing as many as 7,300 jobs. Declines in subsectors such as Machinery, Equipment, and Commercial Wholesale Supplies contributed to the nation as a whole seeing a reduction in discretionary spending and consumer demand.
