A Decade of Unemployment Rates in Sacramento County

Put on your economist hat and let’s take a look at the past decade of unemployment rates in Sacramento County based on the month of June. What do you see? Is it any wonder why property values have decreased so much? If people are out of work, mortgages cannot be paid and higher prices cannot be afforded. Moreover, when there is a decline in property value, people should not be paying as high of taxes as they paid five years ago. Any thoughts?

June 2010     12.6%
June 2009     11.5%
June 2008     6.9%
June 2007     5.4%
June 2006     4.9%
June 2005     5.1%
June 2004     5.9%
June 2003     6.3%
June 2002     5.8%
June 2001     4.5%