Financial Capital

A Summary of Findings

Overall, the Sierra Nevada is prospering financially. However, that prosperity is concentrated largely in the North Central counties, where job creation has outpaced population growth, and unemployment is lower than in California as a whole. In addition, per capita income in the North Central Sierra exceeds the California average and investment in high speed Internet is substantial.

By contrast, trends in the other Sierra regions—South Central, East, and North—are more mixed. In the South Central Sierra, population is growing faster than jobs. In all three regions, unemployment has climbed since the recession in 2001. Seasonal unemployment continues to be a problem in the North and the East, as well as in parts of the South Central. Per capita incomes in these three regions have fallen behind the North Central as the income gap continues to widen. Also, the number of low paying jobs exceeds the number of higher skilled, higher paying jobs, resulting in unaffordable housing for many.

Region-wide, tourism—heavily dependent on the natural beauty and landscape of the Sierra—now accounts for 15 percent of the region’s total payroll. In a number of counties, it is the single most important economic activity.