A new economic forecast paints a glum picture for Ventura County.
Experts with California Lutheran University’s Center for Economic Research and forecasting say the average economic growth over the last four years for the county rounds out to zero percent.
The economists say the county’s economy contracted nine tenths of a percent in 2016, and four tenths in 2017. The economic forecast blames two main factors for the problem. It cites the growing housing affordability crisis, and the difficult businesses in the county face in attracting, and keeping employees.
The forecast predicts weak growth for Ventura County in 2019 and 2020, totaling just over a third of a percent. CLU is the parent of KCLU Radio.