The March unemployment rate falls to 3.4 percent, led by gains in hospitality, business services, and research and development hiring.
San Diego County’s jobless rate dipped to 3.4 percent in March, signaling that some of the region’s industries most damaged by the pandemic have begun to recover.
“I think historically we got down to 2.9 percent unemployment right before COVID, and I think we are going to see that again,” said Phil Blair of Manpower West. “Employers like us are scrambling to find people pretty much across the board.”The county’s jobless rate was 2.9 percent in May 2019. Until recently, San Diego County’s employment recovery from COVID lockdowns had been slower than much of the nation. Labor force participation in San Diego and across the U.S.
Early retirement has been one factor driving lower labor force numbers nationwide, said Gin. Studies project some 2 million more people than predicted have retired coming out of the pandemic. In San Diego County the largest employment gains came in the leisure and hospitality sector, which added 5,000 jobs from February to March and 49,900 workers since March 2021.
Tourism, however, has not bounced back yet, with hotel jobs in particular still at the lowest level since 2003, said Cunningham. He expects business and convention travel to continue struggling to recover. But leisure travel could bounce back more quickly. Professional and business services did not ring up huge hiring gains from February to March. But the professional sector added 20,600 jobs year over year.
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