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Business Journal: Sac Economy Recovering, But Slowly

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(Sacramento, CA)
Friday, July 16, 2010
The Sacramento region’s economy is on the road to recovery, or it’s just around the corner, likely by the end of the year.  But don’t expect fast-paced job growth or that nagging feeling from the Great Recession to end anytime soon.
A California State University Sacramento business report expects the jobless rate will continue between 11 percent and 12 percent during the next year — meaning more than 120,000 people will remain without work in the four-county region.  And the hard-hit construction industry and real estate market will continue to struggle, at least until consumer confidence — and consumer spending — return.
But the biggest wild card in the twice-a-year report?  The state budget, which could lead to layoffs and make that recession-like feeling last a lot longer in the Sacramento region.
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