Recession-Proof Economy? 2003
Outlook		 Residential
Outlook		 Conclusion

2003 Outlook

Employment

  • Slow but positive growth in the local economy
  • Job growth = 25,000 - 30,000
  • Unemployment to hover in the high 3%, low 4% range

Employment (thousands)

  2001 2002 Change
Total Nonfarm 1221.6 1244.7 +1.9%
- Construction 73.4 75.5 +2.9%
- Manufacturing 130.6 128.3 -1.8%
- Services 1017.3 1040.7 +2.3%

 

Change in Selected Manufacturing Sectors

  • Electronic Components
  • Aerospace
  • Miscellaneous Manufacturing
 -13.1%

-5.8%

-1.1%

Industrial and Commercial

  • Continued deterioration in manufacturing - cost and land availability problems
  • Drop in consumer confidence - weak economy, turmoil in financial markets, possibility of war with Iraq

Source: San Diego Union-Tribune

For more information, please contact:

Professor Alan Gin 
School of Business Administration 
University of San Diego 
5998 Alcalá Park 
San Diego, CA 92110 		 TEL: (619) 260-4883 

FAX: (619) 501-2954 

E-mail: agin@cox.net