National University System Institute for Policy Research

(858) 642-8498 Get Started

Slowing jobs a bad sign?

EconoMeter panel looks at jobs numbers as troubling sign

Roger Showley, U-T SAN DIEGO

Friday, September 27, 2013

View Article

Kelly Cunningham, National University System
Answer: YES 

San Diego’s economy has many “canary in coal mine” aspects. We were among the first to experience the housing bubble and subsequent collapse. Over the past decade San Diego's job momentum tended to lead the rest of the state and nation. Flat-lining job growth since March 2013 locally is not only a result of sequestration and military cutbacks, but other consequential fiscal actions stemming growth. Higher state and national taxes imposed since the beginning of the year, more regulations being implemented, and Obamacare mandates pending, while financial fundamentals flounder and expectations crater, result in far less than optimal growth.