Jul 14, 201601:16 PMBlog
Region’s economy strong … for now
Portland-based economist Bill Conerly, in his monthly newsletter update today, finds “strong growth at 3.2 percent,” in the Tacoma-Seattle Employment picture. This is “much more than national” results, jobs wise.
His report also finds Washington’s Personal Income Growth to be generally faster than what is shown for the U.S. as a whole. See his charts at this link.
Conerly Consulting’s does note, however, that “small business is losing confidence” in prospects for the future, even as the national measures of Consumer Confidence are pretty much neutral.
In a recent article he wrote for Forbes magazine, Conerly noted that business leaders are not ready for the next recession, which is a certainty in the cycle of our economy. What’s not known is when it will arrive.
“Our current crop of leaders in business, government, and non-profits learned how to be managers during the Great Moderation” (1983-2007) the calmest period ever in the U.S., he wrote.
“I forecast a more cyclical economy in the coming decades,” Conerly continued. “It probably won’t be as bad as the 1970s, but it will definitely be worse than during The Great Moderation.
You can read his Forbes article here.