Job Growth at Orange County Expected During 2010 ~ Cal State Fullerton Economy Forecast

Job growth and employment figures aren't very sexy as topic for a blog article, but it's good to hear expert economist Anil Puri at Cal State University Fullerton make some positive predictions about Orange County.  He sees job growth in 2010. 

Cal State Fullerton's 2009 economic forecast now released with comment by Anil Puri, dean of the Mihaylo College of Business and Economics.  This expert had predicted in April 2009 that the economy rebound but not quickly.  

Good news for workers ~

• Orange County payrolls should start showing job growth in second half of 2010. 
• OC employers will add about 9,900 net new jobs next year (which is off the average annual pace of 17,400 since 1990). 

Puri said about Orange County ~  

• Expect to see a peak in unemployment in the first quarter of 2010.
• Unemployment peak should be somewhere between five to six months after the official end of the recession.  (Orange County unemployment is now at high of 9.4 percent in September 2009).

He said he believes in a faster economic rebound in terms of gross domestic product and predicts GDP will grow at 3.3 percent during 2010 after declining during the recession. 

This report points to strong recent economy performance by some foreign countries, that lower U.S. dollar will help U.S. exports, and that the housing market appears to have already hit bottom. 

We have seen a turn in Orange County residential real estate, which is on upswing for market under $1 million.

The biggest part of the US economy stimulus of $787 billion is expected to hit during last quarter 2009 and first at 2010.  We will see how, if at all, this effects the Orange County economy.

So even though possible job growth and employment figures at Orange County aren't a sexy topic, it is indeed good to hear an expert economist make some positive predictions.  

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For information about Orange County homes and real estate, please contact us.  Thanks.  Harrison K. Long, Explore Group, Coldwell Banker Previews, Irvine, CA.  DRE 01410855.  ExplorePropertie@gmail.com.