Daily Business Report — Nov. 18, 2011
County Employment Picture
Nonfarm employment up 11,100 jobs over the month and up 24,000 jobs over the year
The unemployment rate in San Diego County was 9.7 percent in October — down from a revised 9.8 percent in September and below the year-ago estimate of 10.4 percent, the state Employment Development Department reported today. This compares with an unadjusted unemployment rate of 11.2 percent for California and 8.5 percent for the nation during the same period.
Between September 2011 and October 2011:
Total nonfarm employment increased from 1,237,600 to 1,248,700, a gain of 11,100 jobs. Agricultural employment declined by 200 jobs.
• Government posted the greatest month-over gain, adding 7,400 jobs. Local government (up 5,600) accounted for roughly 75 percent of the job growth in this sector, primarily from local government education (up 5,500). State government added 1,800 jobs, while federal remained unchanged.
• Five other sectors also reported monthly employment gains: professional and business services (up 4,400); educational and health services (up 3,200); trade, transportation, and utilities (up 600); manufacturing (up 200); and other services (up 100).
• Leisure and hospitality recorded the greatest month-over decline, down 3,400 jobs. Accommodation and food services decreased by 2,300 jobs, mostly from food service and drinking places (down 1,900). Arts, entertainment, and recreation decreased by 1,100 jobs.
Between October 2010 and October 2011:
Total nonfarm employment gained 24,000 jobs, or 2.0 percent. Agricultural employment reported no change in employment levels over the year.
• Professional and business services reported the greatest year-over gain, adding 8,700 jobs. Administrative and support and waste services increased by 5,500 jobs, followed by a gain of 3,100 jobs in professional, scientific, and technical services. Management of companies and enterprises gained 100 jobs.
• Five other sectors also added jobs over the year: leisure and hospitality (up 6,400); educational and health services (up 6,000); trade, transportation, and utilities (up 3,100); financial activities (up 1,500); and manufacturing (up 900).
• Four other sectors lost jobs over the year, but the most notable came from construction (down 1,400). Specialty trade contractors (down 1,300) contributed to most of the job losses in the construction sector.
Cubic Corp. Unit Gets Chicago Transit Authority Contract
Cubic Transportation Systems, a business unit of San Diego-based Cubic Corp., has been awarded a contract by the Chicago Transit Authority to provide the agency’s next-generation open payments system that will accept bank cards and, ultimately, mobile phone payments. The contract has an estimated value of $454 million, making it the largest automated fare collection contract ever placed in North America, the company said. Cubic will operate and maintain the entire system, resulting in an overall 12-year partnership between Cubic and the CTA. Cubic will transition the agency from its current agency-issued fare media to an open payment system where customers can use their existing credit or debit cards as a ticket.
Embarcadero Bank Completes Merger With Coronado First Bank
Embarcadero Bank has announced the completion of its merger with Coronado First Bank, which was effective Nov. 16. The combined bank will operate under the name Coronado First Bank. Jerry Suppa is chairman of the combined bank. Maria P Kunac is president and CEO. The combined bank’s stock will trade on the Over-the-Counter Bulletin Board under the symbol NADO and will be headquartered in Coronado.
Cancer Patients to Receive Advanced Proton Treatment
Scripps Health and Rady Children’s Hospital-San Diego announced they will team up to provide advanced proton treatment at Scripps Proton Therapy Center to pediatric cancer patients. According to the center’s medical director, Dr. Carl J. Rossi Jr., proton therapy is generally preferable to conventional X-ray radiation for pediatric patients. X-ray radiation’s long-term side effects, he said, can be devastating, as growing organs are highly sensitive to radiation. The Scripps Proton Therapy Center is under construction in Mira Mesa. the Scripps Proton The $220 million center is expected to open in spring 2013. It will have the maximum capacity to treat about 2,400 adult and pediatric patients annually.
Community College District Names Vice Chancellor
Sahar Abushaban has been named associate vice chancellor of business services for the Grossmont-Cuyamaca Community College District. Abushaban was hired by the district as a financial analyst in 2006 and has been serving as interim director of district business services for the past two years. A Palestinian by birth who emigrated from Egypt to the United States in 1980 as a high school senior, Abushaban enrolled in classes at San Diego’s Mesa College just five months after arriving with her parents and siblings from Cairo. After earning a bachelor of science degree in business administration from San Diego State University, she began a 20-year career in budget and financial analyses. Abushaban worked at the Grossmont Union High School District, Grossmont College and UCSD before she was hired at the college district.
Schubach Aviation Hires Business Development Manager
Jolane Crawford has rejoined Schubach Aviation as its business development manager. A 19-year veteran of the aviation industry, Crawford will oversee the company’s community outreach and new business development efforts. Crawford most recently served two years as business development and charter sales director for another charter operator in San Diego. She had worked at Schubach Aviation for six and a half years in charter sales and client services. She had also worked at AirTime Aviation at Palomar Airport where she managed scheduling, accounting, payroll, customer service and staff.
Small Business Workshops
SCORE San Diego continues its series of small business workshops. For more information, call (619) 557-7272 or visit score-sandiego.org.
· Nov. 21 – Marketing and Contracting with the Federal Government – 9 a.m. to 3 p.m. at National University in Kearny Mesa (9388 Lightwave Avenue, San Diego 92123; pre-paid registration $69, $79 at the door).
· Nov. 21 – Tax Considerations for Small Business – 9:30 to 11:30 a.m. at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $29, $39 at the door).
· Nov. 22 – Business Basics 101 – 9 a.m. to noon at National University in Kearny Mesa (9388 Lightwave Avenue, San Diego 92123 no charge – please pre-register).
· Nov. 30 – QuickBooks Basic – 9 a.m. to 4 p.m. at National University in Kearny Mesa (9388 Lightwave Avenue, San Diego 92123; pre-paid registration $69, $79 at the door)
The Daily Business Report is produced by REP Publishing Inc., publisher of SD METRO, the North Park News and the West Coast Craftsman. Contact: Manny Cruz (619) 287-1865.