Business & Real Estate

Sacramento ranked third-best city in U.S. for working women, study says

Sacramento is not only one of the most diverse cities in the country and a top destination for transplants, it’s also one of the best places for working women, according to a recent study.

Magnify Money, a financial editorial platform owned by brokerage company Lending Tree, found that Sacramento was the third-best location in the U.S. for working women among the country’s 50 biggest cities, based on data including earnings gaps, rates of women-owned businesses and rates of female leadership.

Sacramento – which trailed Washington, D.C. in first place and Seattle in second – has a relatively low earnings gap between men and women, with a 13.7 percent difference, compared to D.C.’s 16 percent and Seattle’s 22 percent, according to the study.

While Sacramento’s female unemployment rate of 7.3 percent is higher than other top-ranked cities, 33.9 percent of businesses are owned by women and 43.2 percent of managers are women.

Other metrics contributing to Sacramento’s ranking include its high rate of women with employer-based healthcare – 61.8 percent – and the relatively low fraction of a woman’s median income required to cover daycare expenses – 21.8 percent.

San Francisco came in sixth place with a female unemployment rate of 5.4 percent, a female-owned business rate of 34 percent and a female managerial rate of 42.2 percent.

San Diego was ranked 10th with a female unemployment rate of 6.6 percent, a female-owned business rate of 35.8 percent and a female managerial rate of 39.7 percent. San Diego’s earnings gap is slightly lower than Sacramento’s, at 12.4 percent, while San Francisco’s is 17.2 percent.

Los Angeles’ earnings gap was the lowest of any U.S. city at 11.2 percent, but the Southern California city ranked 21st in the study.

Magnify Money ranked Charlotte as the worst city in the country for working women. Seven of the 10 lowest-ranked cities are in the south.