Saturday, March 24, 2007

Sacramento jobless rate steady, area adds 14,900 service jobs in year - Sacramento Business Journal:

Sacramento Business Journal - March 23, 2007

Business News - Local News
Jobless rate steady, area adds 14,900 service jobs in year
Sacramento Business Journal - 12:30 PM PDT Friday, March 23, 2007

The unemployment rates for both Greater Sacramento and California were unchanged in February from the month before.

The four-county area added 14,900 jobs from February 2006 to February 2007, a 1.7 percent increase with all the gains isolated to the service industries, the state Employment Development Department reported Friday. Government payrolls grew by 4,900 year over year, largely through added state employment. Private education and healthcare added 3,600 jobs, mostly through healthcare gains.

Other annual gains came in professional and business services and in leisure and hospitality, each gaining 1,800 jobs, while farm employment added 1,200 jobs year over year.

Those were offset in part by the loss of 1,700 construction jobs, and 600 manufacturing jobs in the February-to-February span. Manufacturing of durable goods declined by 1,000 jobs, but non-durable manufacturing added 400.

The state unemployment rate was 4.8 percent in February after adjustments for seasonal variation in employment such as holiday retail hiring. That was unchanged from January and one-tenth of a point below the figure for Feb. 2006.

Local unemployment data are calculated without seasonal adjustments. The jobless rate for the four-county region centered on Sacramento was 5.3 percent in February, also unchanged from the prior month, but up from an estimated 5 percent in February 2006. Individual rates were 4.7 percent for Placer County, 5.2 percent in both Sacramento and El Dorado counties, and 6.6 percent in Yolo County, which is more heavily reliant on seasonal farm work.

Without the adjustment for seasonal fluctuations, the state rate was 5.2 percent in California and 4.9 percent nationwide.

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