Sacramento Labor Market Trends 2024
Explore the latest updates on labor market trends in the Sacramento area for 2024, including the unemployment rates, job growth, and industry employment data. Gain insights into the changing economic landscape and employment sectors impacting the region.
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LMI Update Cara Welch, Researcher EDD, Labor Market Information Division November 21, 2024
Golden Sierra Unemployment Rate Trend Monthly Unemployment Rates for Golden Sierra Local Workforce Development Area Monthly Rates 2019 2024 16.0% 2019 2020 2021 2022 2023 2024 14.0% 12.0% 10.0% 8.0% 6.0% 2024, October, 4.3% 4.0% 2019, October, 2.8% 2.0% 2023, October, 3.9% 0.0% January February March April May June July August September October November December Source: CA Employment Development Department, Labor Market Information Division, Local Area Unemployment Statistics
Job Growth in the Sacramento MSA The pace of year-over job growth in the Sacramento MSA has slowed over the course of the expansion, falling below pre-pandemic levels. Year-Over October Changes in the Sacramento MSA Total Industry Jobs: 2017-2024 (Non-Seasonally Adjusted Data) 53,300; 5.2% 6.0% 4.0% 26,200; 2.6% 25,000; 2.6% 27,000; 2.6% 22,200; 2.2% 22,400; 2.1% 14,100; 1.3% 2.0% 0.0% -2.0% -4.0% -47,000; -4.5% -6.0% Oct-17 Oct-18 Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Oct-24 Source: CA Employment Development Department, Labor Market Information Division, Current Employment Statistics
The Sacramento MSA Industry Employment Sacramento MSA Employment by Industry as of October 2024 1,112,300 Total, All Industries Government 264,900 Private Education and Health Services 209,600 Trade, Transportation, and Utilities 169,900 Professional and Business Services 136,400 Leisure and Hospitality 110,800 Construction 75,100 Financial Activities 48,700 Manufacturing 39,700 Other Services 38,100 Farm 9,800 Information 8,700 Mining and Logging 600 Source: CA Employment Development Department, Labor Market Information Division, Current Employment Statistics
The Sacramento MSA Industry Employment 2019-2024 Sacramento MSA 2019 2024 Employment Change by Industry October 2019 compared to October 2024 Total, All Industries 68,600 Private Education and Health Services 40,700 Government 20,000 Trade, Transportation & Utilities 7,600 Leisure and Hospitality 3,200 Construction 2,200 Other Services 2,200 Manufacturing 1,700 Farm 400 Mining and Logging 100 Professional and Business Services -2,600 Information -2,900 Financial Activities -4,000 Source: CA Employment Development Department, Labor Market Information Division, Current Employment Statistics
The Sacramento MSA Year-Over Industry Employment Sacramento MSA 2023 2024 Employment Change by Industry October 2023 compared to October 2024 Private Education and Health Services 14,200 Total, All Industries 14,100 Government 6,000 Professional and Business Services 2,100 Mining and Logging 0 Farm -300 Financial Activities -500 Trade, Transportation & Utilities -500 Other Services -600 Leisure and Hospitality -900 Information -900 Manufacturing -1,300 Construction -3,200 Source: CA Employment Development Department, Labor Market Information Division, Current Employment Statistics
The Sacramento MSA Industry Employment Trends Construction declined when comparing October 2023 to October 2024. Employment declines of 1,200 in Specialty Trade Contractors and 400 in Construction of Buildings. Other declines exist in confidential subsectors. Year-Over Changes in the Sacramento MSA Construction Jobs, Oct 2019 - Oct 2024 Year-Over Changes in the Sacramento MSA Construction Subsector Jobs, Oct 2019 - Oct 2024 4,900 4,800 3,900 3,500 900 400 200 200 300 200 100 0 0 0 -300 -400 -1,200 Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Oct-24 -3,200 Oct-24 Construction of Buildings Specialty Trade Contractors Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Source: CA Employment Development Department, Labor Market Information Division, Current Employment Statistics
The Sacramento MSA Industry Employment Trends Leisure and hospitality is down 900 jobs when comparing October 2023 to October 2024. The decline occurred in the Food Services and Eating Places subsector. Year-Over Changes in the Sacramento MSA Leisure and Hospitality Jobs, Oct 2019 - Oct 2024 Year-Over Changes in the Sacramento MSA Leisure and Hospitality Subsector Jobs, Oct 2019 Oct 2024 17,600 13,700 4,800 2,400 1,200 9,000 4,200 3,900 1,400 1,000 700 3,400 2,600 -1,600 -900 -6,000 -19,100 Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Oct-24 -25,100 Arts, Entertainment, and Recreation Accommodation and Food Services Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Oct-24 Source: CA Employment Development Department, Labor Market Information Division, Current Employment Statistics
The Sacramento MSA Industry Employment Trends Private Education and Health Services led the region in year-over job gains in October 2024. Year-Over Changes in the Sacramento MSA Private Education and Health Services Jobs, Oct 2019 - Oct 2024 Year-Over Changes in the Sacramento MSA Private Education and Health Services Subsector Jobs, Oct 2019 Oct 2024 14,800 13,600 16,300 14,200 6,000 5,300 5,000 7,500 6,600 6,400 2,200 1,500 1,400 600 600 -2,000 -1,700 Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Oct-24 -3,700 Oct-20 Private Educational Services Health Care and Social Assistance Oct-19 Oct-21 Oct-22 Oct-23 Oct-24 Source: CA Employment Development Department, Labor Market Information Division, Current Employment Statistics
The Sacramento MSA Industry Employment Trends Government added 6,000 jobs compared to last October with gains in Local and State Government. Year-Over Changes in the Sacramento MSA Government Jobs, Oct 2019 - Oct 2024 Year-Over Changes in the Sacramento MSA Government Subsector Jobs, Oct 2019 - Oct 2024 5,500 6,100 11,400 2,900 3,400 5,100 9,800 4,900 3,700 1,100 3,200 6,000 1,400 1,100 400 4,900 100 3,000 -100 -200 -800 -500 -12,400 -10,200 Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Oct-24 Federal Government State Government Local Government Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Oct-24 Source: CA Employment Development Department, Labor Market Information Division, Current Employment Statistics
Thank you! Cara Welch, Labor Market Researcher Cara.Welch@edd.ca.gov 916-530-1700
