Sacramento Region still adding jobs - Sacramento Business Journal:

Sacramento Business Journal - December 22, 2006
http://sacramento.bizjournals.com/sacramento/stories/2006/12/18/daily45.html

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Region still adding jobs
Sacramento Business Journal - 12:10 PM PST Friday

The Sacramento area added an estimated 1,800 wage and salary jobs in November, the same as the previous month, but the local jobless rate still edged upward, the state Employment Development Department reported Friday.

The local jobless rate, before adjustments for seasonal variations such as holiday retail hiring, was 4.3 percent for November in the four-county capital area, improved from 4.5 percent in November 2005 but up from the 3.9 percent in October. The equivalent unadjusted November 2006 figures were 4.5 percent for California and 4.3 percent for the United States.

The seasonal slowdown cut some 1,300 construction jobs and 1,000 farm jobs from the total of 913,900 jobs. But those declines were offset by gains of 2,100 retail jobs and 700 leisure and hospitality jobs, reflecting the openings of ski resorts and associated businesses. The month also saw a gain of 1,100 education jobs in the region, largely at local districts. Manufacturing slipped by 500 jobs.

From November 2005 to last month, the region added 13,300 jobs, with 5,100 of them in the government sector.

State payrolls grew more than local education, EDD noted, reflecting a reversal of the pattern since budget woes prompted work force reductions starting in 2001, "as agencies fill vacant positions and replace retiring baby boomers."

Other growth came in leisure and hospitality (4,300 jobs) and professional and business services (3,400 jobs).

The soft housing market cut into job growth year-over-year, with declines on 1,000 construction jobs and 400 jobs in financial services.

From October 2005 to October 2006, the region had added 15,800 jobs.

Unadjusted jobless rates for the month were 3.7 percent in Placer County, 4.1 percent in El Dorado County, 4.4 percent in Sacramento County (the most populous by far in the region) and 5.2 percent in Yolo County.

Statewide, the unemployment rate was 4.6 percent after adjustments for seasonal variation. That's improved from 5.1 percent a year earlier, but slightly up from 4.5 percent in October.

The state added an estimated 15,900 jobs for the month to reach 15,070,600. Revised figures showed the state added 10.600 jobs in October. From November 2005 to November 2006, the state added an estimated 156,600 non-farm payroll jobs, an increase of 1.1 percent. The biggest gains were in professional and business services, up 46,400 jobs; construction employment saw the biggest drop, with 10,400 fewer jobs.


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