Moody Analytics Releases Its 2024 Economic Report for Sonoma County

In its January 2025 report covering 2024, Moody Analytics addresses the major economic factors affecting Sonoma County. Among its findings:

The local economy is performing well. Monthly job gains have abated in recent months, but on a year-ago basis, employment is on par with that of the state and nation.

Sonoma County continues to lose residents. Sonoma has shed residents in seven consecutive years, though the pace of departures halved in 2023 and timely Equifax data show less out-migration during the past year.

Sonoma County’s agriculture industry had a bounce-back year in 2023. More favorable precipitation levels and better weather for the county’s stable of crops led to a swift recovery in production values.

The outlook for Sonoma County’s tourism has improved since the beginning of the year— recession odds have backtracked significantly with inflation nearly back to the Federal Moody’s Analytics Forging Ahead: An Economic Outlook for Sonoma County January 2025 3 2025 Economic Outlook January 2025 38 Reserve’s target range and the labor market remains strong.

Whole and retail industries are stabilizing. With the U.S. economy on firm footing and interest rates set to decline further, the stage is set for Sonoma’s wholesale and retail trade industries to stabilize.

Healthcare job growth has more than doubled total employment for the better part of the last two years. The county’s healthcare industry is hiring more rapidly than the region.

To read the full report, CLICK HERE