The greater Sacramento area reflects continued statewide economic expansion, according to May employment figures released by the California Employment Development Department.
The Sacramento-area unemployment rate – which takes into account Sacramento, Placer, El Dorado and Yolo counties – stands at a record low of 3.1 percent as of May, down from 3.5 percent in April, according to EDD northern labor market consultant Sheila Stock.
One year ago, the regional unemployment rate was 3.2 percent, which was the last lowest on record, Stock said. The department’s unemployment rate records date back to 1990.
The unemployment rate in Sacramento County is 3.2 percent, Placer County’s unemployment rate is 2.7 percent, El Dorado County’s rate is 3.1 percent and Yolo County’s is 3.4 percent, according to the EDD.
The region added a total of 6,800 jobs in May, bringing the workforce in the area to 1.03 million jobs, according to the EDD.
Most of these were in construction, with a normal seasonal growth in the industry of 2,300 jobs, followed by the trade, transportation and utilities industries, with an above average growth of 2,200 jobs, according to the EDD.
Across the region, state government added 700 jobs, local governments added 600 jobs and the federal government added 100 jobs, according to the EDD.
The only major industries to report job loss in the greater Sacramento area in May were education and health, which lost 500 jobs combined. However, education and health have led the region in job growth in the past year, according to the EDD.
In the past year, employment in the region has grown by 2.4 percent, with 24,200 jobs being added to the economy, according to the EDD.
The only major field to shrink in the past year has been the information industry, which lost 400 jobs in the region, according to the EDD.
Statewide, the unemployment rate is 4.2 percent – a month-over-month drop of 0.1 percentage points — and the world’s fifth largest economy added 19,400 nonfarm payroll jobs in May, according to the EDD.
Most of these jobs were in the construction industry, as 12,800 jobs in the field were added in May due to an increase in home building projects, according to the EDD.
Additionally, 4,500 jobs were added in leisure and hospitality, reflecting a strong tourism industry, while 1,800 jobs were added in government, according to the EDD.
The state economy has been expanding since February 2010, and in that time the California economy has added 3.2 million jobs to its workforce, a growth averaging 29,000 jobs per month, according to the EDD.
“As we continue this historic expansion, it’s important that we remain fiscally disciplined, which Governor Newsom has made a cornerstone of the state budget, ensuring that we build an economy that works for all Californians,” Lenny Mendonca, director of the Governor’s Office of Business and Economic Development, said in a prepared statement.