Sacramento Market Report
Future Growth Prospects, Regionally Reduced Cost of Living Rank Metro as an Attractive Relocation Option
Pillars of employment base show resiliency. Accounting for 40 percent of Sacramento’s pre-pandemic workforce, the government and education and health services sectors were notably impacted by the health crisis, shedding a combined 28,000 positions during the second quarter. Since that stretch both employment segments have shown signs of recovery, recapturing a total of 9,800 jobs in July and August. This hiring velocity supported a 340-basis-point drop in unemployment during the two-month window, lowering the metro’s rate to 9.3 percent in August. While other hard-hit sectors, namely the leisure and hospitality industry, have yet to replenish payrolls, the upcoming delivery of four sizable government buildings and a major healthcare campus suggest future gains are on the horizon for Sacramento’s two largest employment sectors.