Serving Bellingham & Whatcom County
Coldwell Banker Bain
Tom DeRose :: Wireless: 360-220-9355 :: Email: tderose@coldwellbankerma.com
Forecast On Local Economy
Posted on August 13, 2009
Here's information on our local economy from Hart Hodges, professor at Western University, and Director of the Center for Economic and Business Research.
Similar to the rest of the nation, the local job market has weakened over the past year. In both Whatcom County and the state, there were 4.6% fewer jobs in June 2009 compared to the peak of the market in spring 2008. This graph shows employment levels (non-farm jobs) in Washington State and Whatcom County from January 2000 through June 2009. Notice that Whatcom County saw job growth in June 2009. The increase in the number of jobs in Whatcom County in June could be a sign that we're near the bottom of the recession. But ... the recovery from the 2008/09 recession could be slow. (Note: the time it has taken the job market to recover after a recession has gotten longer with each recession since 1983.)
Similar to the rest of the nation, the local job market has weakened over the past year. In both Whatcom County and the state, there were 4.6% fewer jobs in June 2009 compared to the peak of the market in spring 2008. This graph shows employment levels (non-farm jobs) in Washington State and Whatcom County from January 2000 through June 2009. Notice that Whatcom County saw job growth in June 2009. The increase in the number of jobs in Whatcom County in June could be a sign that we're near the bottom of the recession. But ... the recovery from the 2008/09 recession could be slow. (Note: the time it has taken the job market to recover after a recession has gotten longer with each recession since 1983.)
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