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EconoMeterists list signs of improvement

Roger Showley, U-T SAN DIEGO

Friday, March 22, 2013

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Kelly Cunningham, National University System
Answer: GDP

The measure of San Diego’s overall economy is gross domestic product (GDP). While the economy has grown since the depths of the 2008-09 recession, as of 2012, GDP had still not quite reached the previous 2007 peak, adjusted for inflation. Both employment and per capita income also remain far below pre-recession highs. The recovery has not been equitably distributed throughout the region, as some sectors continue to languish while others fully recovered and thrive. Economic recovery is readily apparent for certain advanced wealth-generating sectors, and left behind lagging, generally middle-wage industries.