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SAN DIEGO-San Diego County continues to fare better than the majority of other California regions when it comes to matters of employment, having recently recorded a joblessness rate of 4.2% for October 2003, according to research released this past Friday by the California Employment Development Department.

October marks the second month in a row that San Diego has reported an unemployment rate of 4.2%, which marks a return to the lower levels of joblessness that the region experienced this past spring. The area has managed to maintain a fairly steady rate of employment throughout 2003, with levels fluctuating just half a percentage point from 4.2% in May to 4.7% in July. October, however, marks the first time that the area has maintained the year’s lowest point of unemployment for two consecutive months. According to the EDD, 1,448,000 people out of San Diego’s total labor force of 1,510,800 were employed in October, while 62,800 others were out of work.

The EDD has ranked San Diego County as number eight out of 58 regions statewide. This means that only seven other counties had higher levels of unemployment than San Diego for the month of August.

It is San Diego County’s low unemployment rates, as well as its diverse economy and burgeoning population levels, that continue to attract commercial real estate investors to the region. Regardless of any blips that occasionally disrupt the market here over the short term, investors are still attracted to the metro area’s long-term strengths.

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