Over the previous year, the year-over-year job growth rate has decreased to 1/10 of the growth rate from June 2005-06, with San Diego employers only adding 1,600 jobs to their payrolls. If you were to remove government jobs from this figure, the county has lost a total of 1,500 jobs since last June. January 1994 was the last time San Diego has reported a year-over-year job growth this slow. Additionally, San Diego has seen its highest unemployment rate in two years when it rose from 4.2% in May to 4.6% in June.
The blame for this dramatic decrease has been placed on the local housing market where home sales have declined 24% in the past year, and financial and real estate companies shed 400 workers in June 07. According to Kelly Cunningham, an economist at the San Diego Institute for Policy Research, “if the trend keeps going on for the next couple months, it would suggest that we might have a recession before the end of the year… not a big recession, but a slight one.”[tags]San Diego housing bubble,San Diego real estate bubble,California job growth[/tags] downtown San Diego real estate broker California mortgage market
We could actually see a regional recession due to falling San Diego real estate values. San Diego breast lifts
San Diego is going into a real estate induced RECESSION! Lasik San Diego
Mark these words, it will be much worse that the ‘73-’75 recession, it will very likely be worse than the Great Depression, but will be a depression, a real depression. A morning’s worth of true, overall. thoughtful research will convince anyone willing to face the truth.
Mindy
San Diego County Lasik
Lenin was (sort of) right! He just didn’t know why. The inherent contradictions in a capitalist society will destroy capitalism as you know it! The oppression and greed of banks will lead to massive dislocations in the economy that will force true economic and social revolution in this country through legalized institutions.
Bianca
San Diego California Breast Implants