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The Local Economy: Finding the Bright SpotsCathy Cassinos-Carr |
From April 2009
Photo by Roy Wilcox
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Like ice pellets pounding on the window of your life, the grim news comes daily—a cold, endless storm. Experts say the economy hasn’t been this bad since World War II—or 1931, depending on who you ask. The darkest spots: construction, retail, leisure and hospitality, and finance—industries that, in that order, accounted for most But while no one’s talking about it much, there is some good news, too. The big winner? You guessed it: health care, part of the larger category of educational and health services and still the strongest sector in the region, according to Ryan Sharp, director of the Sacramento Regional Research Institute. “It’s not as strong as it was in the past,” cautions Sharp. But health care is still producing the most jobs of any That’s great news for nurses and dental assistants—maybe not so much for the rest of us. But perhaps you’ll find comfort in this: Local recruiters say there are still jobs, even for those whose skill sets don’t include giving shots, drawing blood or X-raying teeth. “I believe anybody can get a job right now,” says Jenny Beard, owner of Express Employment Professionals in Roseville. “It just depends on how flexible you’re willing to be.” In this economy, that might mean taking a job outside your field or accepting a sizable salary cut—with a smile. On the other hand, bankruptcy attorneys—their businesses typically soar when the economy tanks—probably don’t have much to worry about. One local attorney, Richard Allaye-Chan, reports he’s had to increase his staff by about 50 percent since the recession hit—all because bankruptcy filings are up. Business is booming, though he’d prefer not to use that word. “The term booming implies we’re enjoying profiting off of people’s problems, and we’re not,” says Allaye-Chan. “It’s not a happy thing to talk to people who are in dire straits and need to file bankruptcy.” But, he admits, things are definitely busy and “the economy has driven it—the downfall of the housing market, Other silver linings exist in unexpected places. While many area arts organizations struggle to survive, Suspects Murder Mystery Dinner Theatre, a local institution for 20 years, continues to sell out shows. “I’m almost afraid to say anything—I don’t want to jinx it,” says Paul Waterman, Suspects’ founder. On a recent Saturday night, when 180 tickets sold for the theatre’s 150-seat room aboard the Delta King, Waterman found himself with a good problem: what to do about the extra 30 ticket holders? His solution: Throw them a private show. “I feel blessed, like I’m just waiting for the show to drop,” says Waterman. “What’s happening to other people could easily happen to us.” Even where bus-iness is hurting, good things can come from it, says Sanjay Varshney, Ph.D., a financial analyst and dean of Sacramento State’s College of Business Administration. “Sometimes it’s good in terms of eliminating weaker business models,” he says. John Cook, a partner in several prominent local restaurants including Scott’s Seafood and Malabar, agrees. Another positive amid the negatives: affordable housing. “With foreclosure activity driving prices down, Sacramento has again become one of the most affordable regions in the state,” says SRRI’s Sharp, adding that nearly 60 percent of the region’s homes sold in the third quarter of 2008 were bought by residents with median incomes. “We’re hoping to see a floor in the market sometime late this year,” Sac State’s Varshney says. He’s not suggesting that things will bounce back immediately but that there will be a “leveling off.” Varshney is less optimistic about the area’s unemployment rate, however, which he expects will continue to rise, with the most bloodshed through the second quarter of 2009. In times like these, it’s important to remember that history is a teacher, that everything is cyclical and to take a philosophical view, Varshney advises. “These are business cycles, and there will always be business cycles,” he says. “The good news is what goes down
WHO'S ON TOP? These are the top 10 paying jobs in the Sacramento metro area, according to the state Employment Development Department.* Family and general practitioners: $140,408 Social sciences teachers, postsecondary: $137,054 Anesthesiologists: $131,158 Chief executives $126,702 Dentists, general $125,169 Elevator installers and repairers: $119,594 Pharmacists: $119,560 Computer and information sciences researchers: $116,473 Engineering managers: $114,713 Electrical and electronics repairers, commercial and Industrial equipment: $111,853 * Salaries reflect 2008 median wages and are based on the most current information available.
HOT JOB TIP—Worried your résumé will be lost in the shuffle when it’s submitted online? Double up by sending a copy via snail mail—and include a handwritten note, suggests Jenny Beard, owner of Express Employment Professionals in Rose-ville. “If that was on your desk with 300 other résumés, wouldn’t that stand out for you?” asks Beard. Job seekers should also send thank-you notes after every interview, she adds. “It may make all the difference.”
UNEMPLOYMENT: THE BASICS You’ve probably already heard that it takes forever to get through if you file for unemployment by phone, leading to our first tip: File online. (It’s easy: Just go to edd.ca.gov and click the link that says “File a Claim for Unemployment”.) What else? Here are a few basics from edd.ca.gov, the Employment Development Department of California’s website. Your benefit amount is based on a 12-month period. In a nutshell, the quarter in which you earned the most money determines the amount of your weekly “benefit”—i.e., how much money you’ll get. But just how much, you ask? Check out the unemployment insurance benefit table at edd.ca.gov/pdf_pub_ctr/de1101bt5.pdf. Typically, California workers are eligible for up to 26 weeks of benefits. But due to new legislation, eligible workers may receive up to an additional 33 weeks of federal benefits. If you received severance, you are required to report it when you file your claim. But severance pay is not deducted from unemployment benefits and does not affect your ability to receive them. For more information, visit edd.ca.gov. Or, if you’re the patient sort, call the EDD at (800) 300-5616 for English
TOP 10 JOBS IN THE SACRAMENTO REGION Looking to earn $40K or more? These jobs are expected to have the most openings in the four-county region through 2016, according to data compiled by the state Employment Development Department.* For more information on these and other occupations, visit labormarketinfo.edd.ca.gov/occguides. General and Operations Managers: $96,642 Registered Nurses: $83,935 Computer Systems Analysts: $73,926 Public Secondary School Teachers (except special and vocational education): $59,970 Accountants and Auditors: $57,454 Public Middle School Teachers (except special and vocational education): $57,068 Public Elementary School Teachers (except special education): $56,391 First-Line Supervisors and Managers of Office and Administrative Support Workers: $54,555 Carpenters: $52,350 Executive Secretaries and Administrative Assistants: $41,987 * Published October 2008. EDD advises that projections are just one planning tool and are based on the most current information available at the time of the forecast. Projection totals reflect new jobs and replacement openings.
WHO MAKES WHAT?
PASSION BEFORE PAYCHECK ELIZABETH WENDT, 47, certified music practitioner, Kaiser Permanente North Valley SALARY: Less than $30,000 THE JOB: A longtime local harpist and teacher, Wendt provides music-based healing by playing bedside for the ill and dying and those recovering from surgery. Most of her work takes place at Kaiser, where she serves as coordinator of the Healing Music Program, but she occasionally makes house calls. Why she chose this profession: “Music is an amazing healing tool. People respond emotionally, biologically and chemically to the vibrations of live music. There is a great sense of human connection when I come into people’s lives at these vulnerable times to offer healing and comfort. I knew it was the right avenue to pursue—musically and humanly.” Rewards: “Helping someone who is in pain or just seeing the look of appreciation from someone who hasn’t had a visitor all day.” On choosing love over money: “I hope someday to have passion and a paycheck, but in the meantime, knowing I am helping people in a very profound way and witnessing the changes they go through when I am playing for them is worth gold.”
VINCENT HORIUCHI, 21, break-dance instructor and performer SALARY: Less than $30,000 THE JOB: Yes, he’s young—but Vincent Horiuchi is also self-supporting, paying not only the rent but all of his other bills while pursuing his mission: to provide a better life for kids through dance. In addition to teaching break dancing in local dance studios, community centers and after-school programs, Horiuchi teaches emotionally disturbed and physically impaired young people through VSA arts (formerly Very Special Arts). He also holds fundraisers for such nonprofits as Sacramento Food Bank & Family Services and Wind Youth Services. Why he chose this profession: “Seeing kids go from thinking they are incapable of learning a couple of moves to knowing they are capable of achieving any of their goals in life—that’s why I teach.” Rewards: “If not for my students, I would have lost my drive to continue dancing. I also feel that a lot of these kids look to me for guidance. I can’t let them down.” On choosing love over money: “Doing what I love and making a difference in the lives of others is much more fulfilling than making money. I’ve always found that money never brings happiness. It almost seems that the more money you get, the more stressed and unhappy you get.”
MARY LAUGHLIN, 60, chief development officer, Big Brothers Big Sisters of Greater Sacramento SALARY: Less than $55,000 THE JOB: A one-person department, Mary Laughlin’s job includes raising funds through special Why she chose this profession: “The sum of all my childhood experiences led me to it. It was just natural that I would end up in a job where passion for helping others was required. It all came together for me in the nonprofit world.” Rewards: “Knowing at the end of each day that what I did made a difference in someone’s life keeps me going. I will never forget the teenager who told me that having a Big Brother gave him a ‘second chance at doing life right,’ or the single mother who was raising five children and said what we did restored her faith in humanity. Those are the moments that fuel the passion.” On choosing love over money: “My parents set the bar high for me and really instilled in me that money is not the end game but that doing something that matters is. Giving back to others is not just an option—it is the right thing to do.”
KATIE SILVA , 57, marriage and family therapist intern SALARY: Less than $35,000 THE JOB: As she works toward becoming a licensed marriage and family therapist, Katie Silva helps people Why she chose this profession: “Nothing is more humbling than to be allowed into another person’s life of pain, participate in their healing process, and watch the miracles. I would not be here today if others had not done this for me.” Rewards: “Nothing helps me more to wake up to my own shortcomings and character defects than the warmth of another human trying to ‘be’ in difficult times.” On choosing love over money: “I came from a generation of ‘Just do it, you don’t have to like it—just think of the benefits!’ I worked for years in jobs that had great benefits and good money but left me feeling useless and empty. I believed that there had to be more to life than money, and these thoughts took me on my own healing process.” advertisement
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