Here are some of the more salient quotes:
“Job growth has nearly ground to a halt in San Diego County, raising the risk of a recession later this year, two economists who track the local business climate said Friday.
The latest monthly employment report shows that woes in real estate and construction have spilled over into the local economy, said the economists, Kelly Cunningham of the San Diego Institute for Policy Research and Alan Gin of the University of San Diego.”
“Cunningham said, “That’s the worst job growth we’ve had since ’93.” That year was when San Diego was just beginning to emerge from recession.
Large losses of jobs in real estate and construction are canceling out job gains, Gin said. Housing sales have plummeted, and sales prices have stopped their double-digit annual growth. Inventory of existing homes has risen, causing home builders to cut back on new-home construction.”
Okay, so now what do you have to say Perma Bulls???
There are only so many BioTech and Software Design jobs left here.
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