Job Recovery Strengthened in October

Submitted by Rich Toscano on November 20, 2011 - 2:12pm
We have entered the time of year when employment growth traditionally picks up the pace.  Per the latest estimates from the Employment Development Department, that's exactly what happened last month:

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Submitted by GH on November 20, 2011 - 8:59pm.

All good for a yawn, but things are getting worse and worse. IMO,.nothing that can be done!

Coming from a self employed person on the front-lines!

IMO this has not even begun to get ugly yet!

Submitted by Rich Toscano on November 20, 2011 - 9:47pm.

Yes, verifiable facts and data are so boring.

Submitted by GH on November 21, 2011 - 9:20am.

Rich Toscano wrote:
Yes, verifiable facts and data are so boring.

Rich I am not disputing the numbers. If you think about it 50,000 new jobs over three years for San Diego is most likely not keeping up with population growth and there is no guarantee these are high paying skilled jobs or that when a new job is created it pays the same as an old one.

What I am seeing from a customer serving standpoint is a continually weakening consumer and more financial distress. This translates to less sales, less profit and of course later less tax paid.

IMO we are still on a bad to worse trajectory.

Submitted by Rich Toscano on November 21, 2011 - 9:46am.

But 24,00 jobs over 1 year IS keeping up with (and surpassing) population growth.

That said, you raise a good point on how much income the jobs are generating. Unfortunately income stats are way less timely (you can guess by seeing where the jobs were created, but that's kind of a hassle).

I'm not saying that all is well -- just reporting the on this specific number (or at least, the estimates thereof). There are other numbers and considerations too. But that doesn't render these numbers boring or irrelevant imho.

Submitted by poorgradstudent on November 22, 2011 - 10:35am.

Thanks for another great post, Rich!

Bottom line, things are much, much better than they were two years ago, and better than a year ago. Especially for those of us in non-government, non-bubble sector jobs. This is consistent with what I've seen anecdotally. Retail is still struggling (but happy it's not 2009!), financial services and construction are puttering but not shrinking, tech is doing pretty well and government faces serious challenges due to looming austerity measures brought on by increasing deficits.

Data really is a great way to effectively show "things are kinda better but still not wonderful".

Submitted by GH on November 22, 2011 - 4:21pm.

Rich, no disrespect intended. I tend to be somewhat British in my humour, but while not feeling particularly positive about the way things are going, I am certainly not rooting for bad things. If things are looking up this is a good thing indeed!

Submitted by Rich Toscano on November 22, 2011 - 4:33pm.

None taken GH! (And none proffered, I hope). Just a little friendly back and forth!

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