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The San Diego Workforce Index, compiled by the San Diego Workforce Partnership, ticked up to 84.81 in August from July's 84.44. A reading of 100 indicates full employment. The index was as low as 80 in the recent recession. An increase in available jobs, a drop in the unemployment rate and a small rise in temporary hiring led the index up in August. However, one key component of the workforce index, the University of San Diego's leading indicator for the local economy, dropped sharply from 117.2 in July to 116 in August. Alan Gin, USD economist who compiles the index, notes that this was the biggest monthly decline since March of 2009 and the index has dropped in two of the last three months. Gin is worried about a recovery. The workforce index had declined for two straight months before bouncing back in August.
The San Diego Workforce Index, compiled by the San Diego Workforce Partnership, ticked up to 84.81 in August from July's 84.44. A reading of 100 indicates full employment. The index was as low as 80 in the recent recession. An increase in available jobs, a drop in the unemployment rate and a small rise in temporary hiring led the index up in August. However, one key component of the workforce index, the University of San Diego's leading indicator for the local economy, dropped sharply from 117.2 in July to 116 in August. Alan Gin, USD economist who compiles the index, notes that this was the biggest monthly decline since March of 2009 and the index has dropped in two of the last three months. Gin is worried about a recovery. The workforce index had declined for two straight months before bouncing back in August.