Sacramento Area Suffers More Job Losses
A new economic report indicates the six county Sacramento area lost 14,200 jobs in the past year.
Wednesday, September 24, 2008
The Sacramento area is showing a more signs of a shrinking economy.
A new report says job growth in the six county region has hit its lowest point since 1992.
The report issued today (Wednesday 9.24) by the Sacramento Regional Research Institute says the area experienced a loss of 14,200 jobs between August 2007 and August 2008.
Those are the highest unemployment figures since the Sacramento’s economic lapse 16 years ago…the last time a weak housing market led to climbing jobless numbers.
Ryan Sharp is director of the research institute.
He says the national economic dip coupled with layoffs of ten-thousand state workers during California’s budget impasse are making their mark…
“so at the state level that’s affecting the Sacramento region in particular because of all the state agencies that are headquartered here. But also local governments are also having a tough time in the current fiscal environment…”
Sharp says in the past four months…California’s job losses have been higher than the national average.
Still there’s some promising news in the report.
It says the Sacramento area had job growth in education and health services in the past year…creating more than seven thousand jobs.