Modesto Economy

Consistent Organic Growth

Modesto’s economy experienced the impacts of COVID19 and public-health based restrictions on business activity. By the end of 2021, Modesto had recovered much of its employment, matching the State of California as a whole on unemployment. Rising interest rates beginning in the latter part of 2022 have been associated with widespread increases in unemployment.

Despite dips in the Spring of 2021 and 2024 which coincide with annual renewal, the total number of active Modesto business licenses has steadily increased.

Economic Highlights

·         Modesto is the 19th largest city in California with Population 218,028

·         Median Age 35 vs CA 37

·         ­Net Job growth 2024/23 0.8% population Growth 2024/2019  +0.71%  vs  CA  -1.8%

·         Net Job growth 2024/23 0.8%

·         Median Wage  $18.85  vs CA 17.81

·         Average Wage $25.47 vs CA $25.08

·         ­Workforce:  Modesto 103,400; Stanislaus County 260,300; North San Joaquin Valley 809,548 (CA EDD for Modesto city and stan county, CA zoom prospector for NSJV)

·         ­Workforce Growth: 6.1% June’25/June’20  (Modesto MSA)

·         GDP 2023:  Modesto MSA $30.6B, NSJV $85.6B

·         ­Market Accessibility > $1T GDP within 100 miles

Large Employers


Additional Resources