Public Finance Proposal (San Diego) (Term Paper Sample)

Public Finance Proposal (San Diego)
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Introduction
San Diego city just like most economies is recovering from recession that has been witnessed in most regions of the world (Whitfield, 2010). The laws that govern San Diego are part of those of California State. This is a brief summary of the municipality of San Diego with great emphasis being laid on employment and unemployment information. In addition, demographics of San Diego is also explored
Demographics can be defined as quantifiable statistics of a particular population (Whitfield, 2010). Demographics help in identification of subsets in a population group that helps to characterize the population within a given time. The population of San Diego city as at June 2010 was approximated to be about 1 376 173. This was lower compared to 1 353 993 in the previous year. In the year 2009, personal income in dollars was estimated to be about 42 857 116. According to Whitfield (2010), in the year 2010 personal income dropped to 43 522 125. Similarly, personal income expressed in terms of per capita also dropped in the same year.
Unemployment is referred to as share of persons within an economy that are both willing and capable of working but have not been able to secure a job (Vedder, 2013). Unemployment is a main concern in San Diego. The city has been characterized by a steady increase in the number of the unemployed from 2001 all through to the year 2010. In 2010, the highest unemployment rate was noted standing at approximately at 9.7%. This was a 3.7 per cent increase from the 6.0% of the previous year. Further, the period of 2009 to 2010 also recorded the highest unemployment rate than had been witnessed before. It is also worth noting that although there had been slight decrease in unemployment status from the year 2004 to 2008 from 5.0% to 4.6 %. However, the economic recession of 2009 dwarfed all the earlier efforts to weed out unemployment. Consequently, there was a steady increase in the rate of unemployment to 9.0 % from 6.0 per cent (Whitfield, 2010). With the increased unemployment rate, the economy of San Diego has been put at risk of struggling to exist in the global economy.
The major employers in San Diego city are United States Navy with approximately 54 415 employees. Second comes the university California with 20 408 employees. Third is the Unified school in San Diego. Other employers include the county of San Diego with an employment rate 2.18 per cent and Sharp Memorial Hospital employing about 14 700 employees. San Diego city also employs about 10 499 .Kaisser Permanente on the other hand offers employment to about 7 028 which corresponds to about 1.01% rate of employment. These are the major employers in San Diego with employment rate above 1.0 per cent. Other minor employers in San Diego County are Gas and Electrical companies, Qualcomm and UC medical center of S...