Bob McPhail 5:30 p.m., May 25
Workforce Index Dips in January
The workforce index compiled by the San Diego Workforce Partnership receded in January to 83.98. The index had hit 86.26 in November, its highest point since November of 2008.
Moving in an unfavorable direction in January from December were temporary employment, total nonfarm employment, the unemployment rate, first-time filers for unemployment insurance, and Indeed.com jobs available. Moving in a positive direction were the University of San Diego lead indicators and Conference Board Pacific Region consumer confidence.
The index is adjusted for seasonality. That should comb out seasonal factors such as loss of Christmas jobs. "In the last two months we have seen the job market shrink a bit in San Diego," says David Narevsky, analyst for the Workforce Partnership. "But we are very encouraged by the positive economic reports that indicate more hiring in the future."