UCLA economist sees a bottom to deep economic downturn

But challenges  remain for housing,  jobs and government

SANTA ROSA – The State of Sonoma County Report to the Community Jan. 20 recapped the causes of the deepest economic downturn since the Great Depression and previewed signs of recovery.

[caption id="attachment_17923" align="alignright" width="108" caption="Jerry Nickelsburg"][/caption]

Sponsored by the  Sonoma County Economic Development Board, UCLA Anderson Forecast Senior Economist Jerry Nickelsburg delivered a frank assessment of where the U.S. and California are today, and offered a positive, but cautious, forecast of better times ahead.

For California, Mr. Nickelsburg sees payroll job losses in the private sector as declining. “Today, most private sectors are no longer losing jobs,” he said, noting however that public-sector job cuts are likely to increase.

Home prices and the health of the housing market continue to be major concerns for most California property owners and Realtors.

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