An Overview of the San Diego Labor Market and Economy

On April 24, 2013, the Federal Reserve Bank of San Francisco, in partnership with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, hosted a roundtable discussion on the CRA and workforce development. As part of the event, Laura Choi presented economic data on housing and labor market trends, with a particular focus on San Diego and the broader Southern California region. The presentation, available online, includes data on house prices, job growth, and unemployment. At the aggregate level, the regional economy is experiencing recovery, but low- and moderate-income communities continue to face workforce challenges. Long term unemployment persists in California and job growth appears to be concentrated among low-wage jobs. Additionally, educational attainment is playing an increasingly vital role in employment and wage earning potential, suggesting the importance human capital formation for workforce development.

The views expressed here do not necessarily reflect the views of the management of the Federal Reserve Bank of San Francisco or of the Board of Governors of the Federal Reserve System.