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S.D. County jobless rate holds steady

San Diego Union Tribune -- Unemployment remained at double-digit levels in San Diego County last month, but for the first time since January, the pace of job losses appeared to be slowing.

While San Diego's unemployment rate remained at 10.4 percent, the California rate increased to a postwar high of 12.2 percent, according to the state Employment Development Department.

The county's loss of 55,600 jobs over the past year was a slight improvement from the annual loss of 57,300 in July. And though the state has lost 741,500 jobs since August 2008, that figure was down for the second month in a row.

Some observers said the trends point to the eventual end of job losses and a resumption of growth.

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Alan Gin, a University of San Diego professor who tracks the local economy, said the job losses have pulled San Diego employment back to the level of 2004, with 1.24 million non-farm jobs in the region. He projected losses close to 50,000 jobs for all of 2009.

“It's going to be the worst annual number on record once 2009 is through,” Gin said. “We'll see some stability in the labor market, but not until the first half of 2010.” (Full Story)