bhd | 11 May, 2012 14:06
The Director of the Center for Strategic Economic Research, Ryan Sharp, sees an economic breakthrough in the six-county greater Sacramento area, beginning in June, 2012.
Business confidence also is improving and projects year-over-year job growth for the six-county region by third quarter, 2012. That would break a four-year losing streak.
The forecast sees unemployment dropping to 10.8 percent by March 2013. Job recovery will be led by the professional and business services sector, in which Sharp anticipates growth of 6.7 percent in the next 12 months. This growth is based on spending in other sectors, which are beginning to recover.
Other parts of California, including other inland metro areas, have been doing better in recent months. Even Stockton began posting job gains at the end of 2011 and now is growing faster than the state or nation.
"Nearly every market in the state is recovering," Sharp said.