CLU CERF: Job Growth Will Be Very Weak in 2012
The 2012 Central Oregon Forecast produced by the California Lutheran University Center for Economic Research and Forecasting will be released Wednesday, January 18.
Report highlights
·Oregon’s economy will grow, but slowly, during the next eight quarters. Job creation is forecast to be very weak during 2012, but job growth will strengthen during 2013.
·Two sectors are beating all the negative trends – retail sales and healthcare.
· Deschutes County real estate prices have fallen far more than in most communities. In less than four years, the county went from having almost a $100,000 premium over its neighboring communities to having no premium.
· Baby Boomer wealth drove Bend’s boom, but it took a massive fall during the recession. Central Oregon built a playground for the Boomers, only to find that the Boomers can’t afford to play.
· People talk about V’s and W’s and Double Dips, but we call this the Frying Pan Recession. We went down one side, then experienced a long flat period. Eventually, we’ll see a pickup on the other side.
Presentation: Executive Director Bill Watkins will present the report from at 8:15am Wednesday, January 18, at the Riverhouse Hotel and Convention Center at 2850 NW Rippling River Court in Bend.
Background: CLU CERF provides unflinching local, state and national forecasts for government, business and nonprofit leaders throughout the country. The forecasters have been quoted by the Wall Street Journal, CNN, NBC, Fox Business Network, Forbes, Bloomberg News and many other news organizations. For more information, go to http://oregon.clucerf.org.
