In 2020, unemployment in San Diego increased primarily because of COVID19. | Stock Photo
In 2020, unemployment in San Diego increased primarily because of COVID19. | Stock Photo
The Bureau of Labor Statistics (BLS) has released its annual report for the San Diego Area's economy and its standing within the region and the nation.
In the report, the Labor Bureau outlined various economic health metrics for San Diego, including employment and unemployment rates, wages, prices and spending, and benefits.
Metrics within the report outline changes in data and rates from December 2019 to December 2020.
The figures and data are also subject to change. Those who wish to see the most up-to-date information regarding the San Diego Area's economy can visit the BLS website at bls.gov/regions/economic-summaries.htm.
Unemployment spiked in 2020 within San Diego due to the COVID-19 outbreak in earlier in the year.
Both the city and San Diego County experienced unemployment rates approximately triple. San Diego city's unemployment rate went from 2.6% to 7.9%, and the county's rate climbed from 2.8% to 8%. These jumps were more extreme than the national average, as the U.S. unemployment rate overall went from 3.4% to 6.5%.
The past year saw higher-than-average weekly wages. The San Diego metro area had an average weekly income of $1,315 per capita in the second quarter of 2020. Meanwhile, the U.S. average weekly wage for all industries was $1,188.
The change in spending for energy had a nationwide plummet, likely due in part to shutdowns and restrictions in response to the coronavirus.
The nation saw a 9.4% decrease in energy expenditures within U.S. cities, and San Diego witnessed a 12.0% decrease in energy spending. In contrast, spending on food saw slight increases, with U.S. cities increasing food purchases by 3.7%, and the San Diego metro area spending 3.9% more on food.
Concerning annual expenses, the San Diego area spends more than national averages in all major categories except for healthcare. The highest level for costs lies in housing, where San Diego residents spend $27,764 per year, compared to the $20,386 national averages.
For further information and additional categories, including employer costs and wage changes in the past year, people can visit the BLS website.
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