New Economic Forecast In Ventura County Says Outlook Rough For Region, State, Nation
A new economic forecast report for Ventura County, the state, and the nation paints a grim picture.
That’s one of the big takeaway messages from the 2020 Ventura County Economic Forecast.
Economists with California Lutheran University’s Center for Economic Research and Forecasting say the coronavirus crisis caused job losses in Ventura County that won’t bounce back anytime soon.
They predict by the end of 2022, the county will still be 9,000 jobs below the county’s pre-pandemic level.
The CERF says an ongoing decline in the county’s population - largely fueled by high housing costs - will continue. Statewide, CERF economists say the pandemic is causing the largest recession since World War II.
According to their calculations, the nation’s economic experienced a ten percent drop in nine months.
The economists say the forecasts could change again if coronavirus surges move us into a new wave of shutdowns.
Cal Lutheran is the parent of KCLU Radio.