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Effect of Lost Jobs Unknown on Overall Economy

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(Sacramento, CA)
Friday, September 28, 2012

The long-term effect on the Sacramento's region economy is unclear after Comcast and Campbell's announced major job cuts.

The layoffs counter a job growth trend that began in April according to Justin Wehner.  He's an employment analyst with the State of California. He says the recent growth trend ended a four-and-a-half year slide,  "Only time will tell whether current gains in employment on a year-over basis in the Sacramento region will positively offset some of the losses that we're going to experience in the short term in food manufacturing."

In August there were 5,000 food manufacturing jobs in the area.  Campbell's is eliminating 700 positions.

Wehner says there are more than 43,000 administrative and support services jobs. Comcast is moving 300 of those jobs out of state.  

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