California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

Sonoma County heard first hand from UCLA economist Jerry Nickelsburg that
the recession may be ending, but don't expect much economic growth in 2010
speaking at this year’s Sonoma County’s Economic Development Board’s State
of the County forum.

Unemployment, which surpassed 10 percent in Sonoma County in June, will
remain high despite signs the business climate is improving, said Nicklesburg.
Sonoma County's largest job sectors — government, retail, construction and
hospitality — will add few positions in 2010.  But California and Sonoma
County will grow more slowly than the rest of the nation during 2010.
Nicklesburg cited the state’s ailing public sector for the slow growth.
“More cuts in government are on the way,” he said. “In California, it doesn't
feel like a recovery.”

However, Nicklesburg pointed out that there maybe other bright spots such as
with the dollar's value sinking; there's been an up tick in California exports,
including wine. “We're seeing some demand from our trading partners for
California goods,” he said.

While the state's jobless rate is forecasted to stay high in 2010, the recent
California economic forecast for 2010 by UCLA predicts that real personal
income will grow slightly.

Unemployment will start to fall in 2011 and personal income will rise by 2.8
percent, according to his forecast.

I am Tim Johnson and this has been the California Business Minute.