Local workers will face better odds to get a job opened up in this year's strengthened recovery economy. During fiscal year 2012, the tourism business returned to pre-recession levels.
And, for two years, the consumer spending that had too often remained unseen during the recession, kept the early recovery going. Spending levels stayed on an "upswing" through the fiscal year.
"The San Diego economy is increasingly showing signs of recovery," the city reported in its Comprehensive Annual Financial Report the city council certified last week.
Now that the city's municipal government is "fiscally sound," and has a financial rating that was raised last April, work on patching up the city's budget continues in fiscal year 2013, the report says. Restoring city services to add to last year's restoration of lost library hours and lost fire staff will become possible using the moderate growth major tax revenues the city has planned on.
Sales tax revenues have already done much of the work on fixing the structural budget deficit, the general fund gaining a full 7 percent in revenues between the end of the 2011 and 2012 fiscal years, and property tax revenues have now been stable for 3 years.
Full recovery, however, will not happen in the short term. Restoration of full service levels in all sectors is not expected until after years of a sustained rebound.
Out of work San Diegans have been singled out for help. The city is committed to finding solutions to the unemployment rate that has not recovered near strong enough to end the dreary labor force conditions the recession trapped many San Diegans in, and return the city to the employment levels locals experienced before the drops in available jobs that came early in the recession. Easing the 8.4 percent unemployment rate, that totals far above the near 5 percent rates in middle 2000s, remains a key to making the recovery measure up to a full recovery.\
Another strong average year for the CleanTech cluster is due, but a growing San Diego has areas market out for new expansion in enterprise investment that creates jobs workers that currently lack choices can take. Development will move forward in the border areas in Otay Mesa and San Ysidro near Mexico. Conditions for investment in enterprise remain positive. The city's plans for business expansion have not been cut back. Labor markets can also grow in the several million square feet of manufacturing area added to the northern commercial and industrial areas in the Enterprise Zone after the State of California last year approved San Diego's request for an expansion. Low income San Diegans will get opportunities to make new work deals made less expensive by the enterprise zone tax incentives.
City officials have said on public record the Comptroller published, San Diegans can count on a "slow and gradual" recovery.
To read earlier articles in Breaking Light of Truth on Mondays, read
County updates Labor Relations Ordinance
Vulcan Mountain property not a loss
San Diegans unite to join MLK Jr. Parade
Engineering for Alvarado water treatment plant extended
Mayor to speak at State of the City Address
Comments