
With a slight decrease in the unemployment rate, San Diego County is ending the year on a relatively positive economic note. According to the Employment Development Department, the unemployment rate in the region fell to 4.3 percent in December 2024, down from 4.6 percent in November and mirroring the rate from a year ago in December 2023. San Diego's performance is set against a backdrop of California's unadjusted unemployment rate at 5.2 percent and the national figure at 3.8 percent during the same period.
In December alone, San Diego's nonfarm job count saw an uptick, with 1,500 jobs added, although agricultural employment shrunk by 300 jobs. Highlights for the month's growth were led by trade, transportation, and utilities, which saw a combined increase of 1,700 jobs. Specifically, transportation, warehousing, and utilities added 900 jobs, while wholesale and retail trade posted an increase of 800 jobs. Five other sectors also recorded gains, with construction, information, professional and business services, leisure and hospitality, and financial activities collectively contributing another 1,000 jobs to the pool.
Yet, while several sectors bloomed, others faced reductions. Four industry sectors experienced month-over losses. The largest decline occurred in private education and health services, dipping 600 jobs. Additional losses were recorded in other services, mining, logging, and government, which, when combined, accounted for a contraction of 600 jobs. Over the year, nonfarm employment rose by 8,900 jobs, and agriculture nudged just a little with a 100-job increase.
The annual look from December 2023 to December 2024 pins private education and health services as the most significant job creator, ballooning by 10,500 roles. Moreover, private educational services experienced an increase, boosting employment by 1,400. Six other sectors embraced payroll expansions, with 4,500 jobs among them, led by construction's addition of 1,800 jobs. Despite these increases, four sectors trailed behind, dragging the year-over growth down by 6,100 jobs. Manufacturing bore the brunt with a 4,300-job cut, while the remaining losses were spread across information, professional and business services, and mining and logging.