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|August 29, 2014|
Forecast: Economy stuck in 1st gear
INLAND EMPIRE – The latest Anderson economic forecast out of UCLA leaves California and much of the nation in the doldrums.
Virtually no job growth is likely through next year with the state’s jobless rate around 12 percent.
The forecast predicts continued high unemployment across the Inland Empire for the next 5-years.
Senior Economist John Husing, who’s based in Redlands, says blue collar sectors are the bedrock of the Southland’s economy.
“One is logistics related to the ports of Long Beach and Los Angeles. That segment is coming back and that will be a positive for the Inland Empire. Manufacturers keep saying they’re feeling good, but it doesn’t look like there will be any growth in that sector this year. Construction is our big problem. I don’t see a construction recovery for three or four years,” Husing said.
Husing says job losses in the public sector will outstrip hesitant gains in the private sector. (INT)
Story Date: September 24, 2011