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EconoMeter: What surprised economists the most in 2011?

The big 8 also identify some surprises in the economy in the year passing into history


Sunday, December 25, 2011

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Kelly Cunningham, National University System
Answer: YES

Perhaps just keeping a job in this job market and economy was the biggest accomplishment. On a professional level, in conjunction with our ongoing study with CONNECT to measure the technology innovation economy, we additionally developed a measurement highlighting technology employment overall in San Diego. We found technology companies account for 6 percent of all employers in San Diego and 11 percent of all payroll employment. Tech firms, however, account for 21 percent of all payrolls, and have an average compensation per employee more than double other local employers. Technology industries significantly bolster and drive the region’s vitality and economic prosperity. My biggest surprise was the continual decline of housing prices in San Diego.