California Business Minute™

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

Nearly 90 percent of U.S. metropolitan areas have failed to recoup the jobs lost
during the recession that ended in 2009, according to a recent report that
underscores the slow pace of recovery by metro economies.

Only 14 percent or 52 of 363 U.S. metropolitan areas have seen employment rebound
to pre-recession peaks, according to the report, prepared by forecaster IHS Global
 Insight and released by the U.S. Conference of Mayors at their annual conference
this week.

Among cities where employment has recovered to pre- recession peaks are Washington
DC-Arlington- Alexandria; Dallas-Ft. Worth- Arlington; TX, Houston, TX; San Antonio
, TX and Pittsburg, PA. Those with the smallest amount of employment recovered
include areas such as Carson City and Reno, Nevada; Flint, Michigan and
unfortunately Santa Barbara-Santa Maria and Goleta.

The report does point to some regional improvement. Cities with economies tied to
international trade, transportation and utilities such as the Los Angeles-Long
Beach –Santa Ana metro area will benefit this year, with those industries expected
 to create 563,000 jobs nationally in 2012.

The following illustrates the percentage of jobs regained in the following metro
areas in California since the Great Recession through the end of 2012.

PERCENTAGE OF JOBS REGAINED IN CALIFORNIA
San Jose-Sunnyvale-Santa Clara                    65.3%
Merced                                                         60.2%
Hanford-Corcoran                                          54.3%
Bakersfield                                                   53.9%
Santa Cruz-Watsonville                                 49.3%
San Diego-Carlsbad-San Marcos                   46.4%
Redding                                                       36.5%
Visalia-Porterville                                          36.3%
Oxnard-Thousand Oaks-Ventura                    30.0%
Napa                                                           29.8%
Modesto                                                      27.4%
San Francisco-Oakland-Fremont                   26.7%
San Luis Obispo-Paso Robles                      25.4%
El Centro                                                    25.1%
Yuba City                                                   24.6%
Riverside-San Bernardino-Ontario                  22.1%
Salinas                                                       22.0%
Chico                                                          21.6%
Stockton                                                     20.7%
Los Angeles-Long Beach-Santa Ana             20.7%
Vallejo-Fairfield                                           20.3%
Sacramento-Roseville                                 16.7%
Fresno                                                       15.7%
Santa Rosa-Petaluma                                 12.5%
Madera                                                       6.2%
Santa Barbara-Santa Maria-Goleta                1.9%

To view the report, go to the following link:
http://usmayors.org/pressreleases/uploads/2012/MetroEconomiesReport_011812.pdf

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