Thread regarding Qualcomm Inc. layoffs

Wealth gap getting bigger in San Diego

Seems like lots of jobs on the low end, and the wealthy are getting even wealthier in San Diego.

If you're stuck in the middle, and haven't been able to get a handle on living costs in the area, looks like it's getting harder and harder to survive out here.

http://www.sandiegometro.com/2016/01/daily-business-report-jan-20-2016/

San Diego also continues to face two-tiered levels of job growth. The recession and recovery continued a decades-long squeeze on middle wage jobs in San Diego. In 2001 middle wage jobs accounted for 56.6 percent of all payroll jobs in the County. The proportion shrunk to 52.6 percent before the recession hit, and in the subsequent recovery the ratio still continued to fall to 49.5 percent as of 2014.

At the same time as demand for higher skilled and highly compensated positions continues to grow, lower wage jobs not easily replaced by machines or technology also increases. The result has been San Diego’s economy becomes ever more hour-glassed shaped as more jobs accumulate on the top and bottom, and fewer in the middle. This has significant implications for San Diego’s housing, income, education, and business needs beyond 2016.

Key sources of San Diego’s economic strength, principally derived from technology driven research and development as well as specialized manufacturing, should help the region perform slightly better than the rest of the nation. But given our continuing dependence upon tightening military and defense budgets, slowly improving tourism and local area consumption spending, and turmoil of real estate and financial markets, San Diego will be fortunate to achieve a seventh continuous year of positive economic momentum in 2016.

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| 691 views | | 1 reply (January 26, 2016) | Reply
Post ID: @OP+FDYasFW

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Article is sort of useless because it all depends upon your definition of "middle wages". If I define it as the 25th ... 75th percentile that it has remained constant at 50% of the economy since forever!

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Post ID: @meq+FDYasFW

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