by Pat Lewis on June 01, 2011
According to a CEO survey produced by the Business Roundtable, first quarter 2011 is showing promising results. Survey respondents indicated sales were up 16%, capital expenditures up 5.9% and employment up 14.2%. These results are up again from the three previous quarters and CEOs expect momentum to increase over the next six months. Their rationale, increasing demand will create more jobs. On the national level, employers have added 216,000 jobs and ended the first quarter with a robust stock market. Overall, results are positive, despite rising gas prices, Middle Eastern turmoil, catastrophic events in Japan, and a downturn in the housing market.
In the Sacramento region, the Center for Strategic Economic Research identifies we've had a 1.6% decline in jobs between the period of Feb 2010 and 2011, well below the California and national job growth levels. A majority of the declination is the result of a shedding of jobs in the private sector and the only areas of job growth were in the Professional Services, Manufacturing, and Education / Health Service sectors. And, we're also not immune to issues facing the national economy, which doesn't bode well for an already dismal situation. Yet, Sacramentans seem to be slogging it out and making the best of a tough situation.
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