It was a painful recession and the recovery has been erratic and sometimes frustratingly slow. Yet, San Diego, based on February’s numbers, has finally recovered all of the jobs lost during the recession as payrolls have reached an all-time high.
San Diego joins seven other areas in California to have recovered all of the jobs lost. These include the metropolitan statistical areas (MSAs) of San Francisco, San Jose, San Luis Obispo, El Centro (Imperial County), Bakersfield, Napa, and Merced. The regions that have totally recovered the lost jobs account for about 25% of the state’s total employment.
California has a whole still has nearly 100,000 jobs to recover. However, if job growth continues at the average pace recorded in 2013, those jobs will be regained in only about three months. Los Angeles and the Inland Empire (Riverside and San Bernardino Counties) on this basis will each take 13 months or about a year to recover. For Orange County, it might be 23 months or about two years to fully recover the lost jobs.
San Diego has thus taken the lead as Southern California’s first major metropolitan area to recoup its recession job losses.