• Scam Diego alerts

The lead indicators of the San Diego economy, compiled by economist Alan Gin of the University of San Diego, in August continued the tepid rise they have experienced since February. The August index was 102.4, topping July, June, May, April, and March, but below the 102.9 of February. There was a big rise in consumer confidence, coupled with increases in stock prices and the national economy. But moving in an unfavorable direction were help wanted advertising, building permits, and initial unemployment claims, although the drop of initial claims was down considerably from earlier months.

  • Scam Diego alerts

Comments

SurfPuppy619 Sept. 24, 2009 @ 6:59 p.m.

Home sales in So Cal were off close to 3% last month, foreclsosures are still through the roof, a large majority of home owners are still upside down on their mortgages, there is no private sector job creation, the jobs that are being created are crap, the average fed gov employee is now being paid TWICE what the average private sector employee is being paid...but hey, Ben Benanke said the recession is "over".....who's worrying.

0

Don Bauder Sept. 24, 2009 @ 10:20 p.m.

Response to post #1: You could also add that commercial real estate is really in the tank. On the residential side, the number of foreclosures will billow as people have to pay more and more each month on adjustable rate mortgages. You are correct: unemployment is 10.4% in San Diego, the underemployment rate is going through the roof, and these data don't take into account the declining quality of jobs. Bernanke's Fed has been wrong on just about everything, never seeing the tsunami coming from derivatives, fraudulent mortgages, etc., yet may get the job as the main regulator of banks. Best, Don Bauder

0

Sign in to comment

Join our
newsletter list

Enter to win $25 at Broken Yolk Cafe

Each newsletter subscription
means another chance to win!

Close