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San Diego unemployment holds steady at 2.9%

Posted at 4:09 PM, Jun 15, 2018
and last updated 2018-06-15 19:09:35-04

SAN DIEGO (CNS) - Unemployment in San Diego County remained flat at 2.9 percent in May as the labor market remained tight, according to statistics released Friday by the San Diego Regional Economic Development Corporation.

That unemployment rate was 0.8 percent lower than a year ago, and the lowest since January 2000. It was also well below state and national averages of 3.7 and 3.6 percent, respectively.

The largest increases in employment came in the leisure and hospitality sector, which added 2,100 jobs. Education and health services saw the only declines of any industry group, shrinking by 300 jobs.

Only 1,293 new businesses were established in May, the worst performing month in the last two years. There were 72.5 percent fewer new businesses than the 12-month peak and 58.1 percent fewer than the 12-month rolling average.

Business consulting, restaurants and real estate management remained in the lead, adding 88 new businesses.

Solana Beach had the lowest unemployment rate in May: 1.2 percent. National City, at 4 percent unemployment, had the highest and only unemployment rate to rise in May.