A look at jobs and economic growth in the state of California
The greater Sacramento area’s economic expansion cooled off slightly this past month, as the regional unemployment rate climbed and job growth slowed down.
The Sacramento-area unemployment rate stands at 3.8 percent as of June, up from last month’s record low of 3.1 percent in May but still below the unemployment rate one year ago at 3.9 percent, according to the California Employment Development Department. This takes into account Sacramento, Placer, El Dorado and Yolo counties.
This mirrors the nation’s unemployment rate of 3.8 percent for the same period but stands below the state’s seasonally-adjusted unemployment rate of 4.2 percent, which was higher than the revised May figure of 3.5 percent, according to the EDD.
The Sacramento County’s unemployment rate is 3.9 percent, Placer County’s is 3.3 percent, El Dorado County’s is 3.7 percent and Yolo County’s is 4 percent, according to the EDD.
In the past month, the total jobs in the region increased by 4,600 to a total of 1,033,100, led by professional and business services, which saw in increase of 2,100 jobs, according to the EDD. Administrative and support and waste management services led the expansion within that sector.
Educational and health services experienced the largest decline in the past month, suffering a loss of 1,700 jobs, but still led job growth in the past year with an increase of 6,000 jobs, according to the EDD.
Information was the only major industry to experience a decline in the past year, reporting a decline of 300 jobs, according to the EDD.
Since last June, total jobs in region increased by 17,800, or 1.8 percent, the EDD said.
California’s economy has been expanding for 112 months — since February 2010 — only one month shy of its record expansion in the 1960s, Lenny Mendonca, director of the Governor’s Office of Business and Economic Development, said in a prepared statement.
In that time, employers have added 46,200 nonfarm payroll jobs, accounting for one-fifth of the country’s total job gain, according to Mendonca.
“With the budget recently signed by the Governor, we are preparing for all future scenarios and continue to look at a broad set of data to determine the health of our economy for all Californians,” Mendonca said in the statement.