SD Economic Index Rises For 7th Straight Month
Last Updated: 1472 days ago
There is good news and bad news when it comes to San Diegos 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.Thats 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.Thats going to be the worst year ever in terms of job loss in San Diego, Gin said.Amanda Ringham knows. Shes a single mother of three, a software developer who was laid off in late October. Shes had a few job interviews, but shes had no luck collecting unemployment from the state, and she said that looking for a job has become almost a full-time job.Ive been trying to do Web sites on the side, but its 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.