Economic rebound continues across most sectors
Roseville, Calif. – A red-hot housing market and an influx of residents continues to help fuel Roseville and Placer County’s growing economy. Placer County’s unemployment rate currently at 5.3% is beginning to approach levels of the Bay Area. Marin County unemployment rate which sits at 4.5% is the lowest in California. Imperial County at 18.9% is traditionally California’s highest by far due to the nature of seasonal workers.
With the exception of manufacturing and financial services, all major sectors continue their economic rebound according to the latest report below from the California Economic Development Department.
Sacramento, Ca.- The unemployment rate in the Sacramento-Roseville-Arden-Arcade MSA was 6.7 percent in July 2021, down from a revised 6.9 percent in June 2021, and above the year-ago estimate of 11.2 percent. This compares with an unadjusted unemployment rate of 7.9 percent for California and 5.7 percent for the nation during the same period.
The unemployment rate was 5.9 percent in El Dorado County, 5.3 percent in Placer County, 7.3 percent in Sacramento County, and 5.9 percent in Yolo County.
Between June 2021 and July 2021, combined employment in the counties of El Dorado, Placer, Sacramento, and Yolo, decreased by 9,600 to total 993,400 jobs.
- Government (down 14,300 jobs) experienced a normal seasonal decline from June to July as schools reduced staff for the summer break. Local government education accounted for 80 percent of the reductions.
- Trade, transportation, and utilities experienced a cutback of 1,800 jobs. Within the industry, transportation, warehousing, and utilities and retail trade reduced 700 jobs each, while wholesale trade shed 400 jobs.
- On the upside, leisure and hospitality (up 3,000 jobs) continued to lead month-over employment growth, with three-quarters of the gain in food services and drinking places (up 2,300 jobs).
- In July, additional notable gains occurred in professional and business services (up 1,400 jobs), construction (up 800 jobs), and financial activities (up 700 jobs).
Between July 2020 and July 2021, total jobs in the region increased by 33,600, or 3.5 percent.
- Construction lead year-over growth with the addition of 9,100 jobs. Specialty trade contractors (up 8,000 jobs) was responsible for 88 percent of the expansion.
- Employment in leisure and hospitality rose by 7,900 jobs compared to last July. Accommodation and food services added 6,300 jobs. Arts, entertainment, and recreation picked up 1,600 jobs.
- Trade, transportation, and utilities payrolls advanced by 5,000. Job gains in retail trade (up 3,700) and trade, transportation, and utilities (up 1,800) more than offset a loss of 500 jobs in wholesale trade.
- Government (down 900 jobs) was the only industry sector to record year-over decline.
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