Report: Fresno job growth projected at 2% this year

Source: The Business Journal

A report out of the University of the Pacific projects an increase in jobs and labor force for the Fresno metropolitan statistical area this year and a continual decrease in the unemployment rate over the next three years. The August 2012 California & Metro Forecast expects the number of jobs in the Fresno area to rise by 1.8 percent in 2012 and the labor force will grow by 0.7 percent this year and 1.2 percent in 2013. The real personal income for the area’s residents will improve by 2 percent this year, followed by 2.9 percent in 2013. The unemployment rate will drop to 15.2 percent this year, followed by 14.5 percent next year and 13.7 percent in 2014. However the forecast does not expect the unemployment rate to sink below 12 percent in the foreseeable future. The Fresno area’s overall population will grow by 1.3 percent each year for the next four years, according to the report. The report anticipates the number of jobs in the state to increase at a pace of 1.8 percent per year but the California unemployment rate is expected to hover around its current 10.7 percent for the next two years.

URL to original article: http://www.thebusinessjournal.com/news/economy/3000-report-fresno-job-growth-projected-at-2-this-year

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