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SAN FRANCISCO-Data suggests that the state of California will not return to pre-recession employment levels until Dec 2015, but within the state there are some areas that face a steeper upward climb. That is according to Jones Lang LaSalle.
GlobeSt.com recently chatted with Amber Schiada, research manager of JLL-Northern California, on the subject, and she noted that Stockton, in the Central Valley, won't get there until late 2020, thanks to its full-on exposure to the housing bust (see graph below).
To the north, she says, “Sacramento's reliance on government employment means it will be the end of 2018 before the capital region returns to 2007 employment levels.”
Check back later today for more from Amber Schiada on the market, this time, Sunnyvale, CA in particular.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
