SD Economic Index Rises For 7th Straight Month

There is good news and bad news when it comes to San Diego’s economy. The monthly report from University of San Diego professor Alan Gin shows overall economic indicators up for the seventh month in a row. They rose two-tenths of a percent in October, led by an increase in consumer confidence.

That’s the good news.

The bad news centers on the job situation. Through October, San Diego County is down 50,000 jobs from a year ago.

“That’s going to be the worst year ever in terms of job loss in San Diego,” Gin said.

Amanda Ringham knows. She’s a single mother of three, a software developer who was laid off in late October. She’s had a few job interviews, but she’s had no luck collecting unemployment from the state, and she said that looking for a job has become almost a full-time job.

“I’ve been trying to do Web sites on the side, but it’s just not enough,“ she said. “I have to have a job.“

Professor Gin said he expects the job market to bottom out in the first half of next year, “Overall I think 2010 will be a positive year for jobs, but not that many new jobs will be created.”

Another negative for the local economy is a drop in local stock prices. A positive is the outlook for the national economy.