ECONOMIST PREDICTS IMPROVED JOB GROWTH IN BAY AREA
By Jeff Shuttleworth, Bay City News
January 26, 2006, 4:00 p.m.
OAKLAND (BCN) - Job growth in the Bay Area will be higher
than in the nation overall over the next two years, an economist
with the Association of Bay Area Governments said today.
Paul Fassinger, the agency's economist and director
of research, said he expects the region's wage and salary jobs
will increase by 40,000 in 2006 and 55,000 in 2007, up from an
increase of 22,000 jobs in 2005.
He forecast that the inflation rate in the Bay Area
would be 2.5 percent in 2006 and 2.6 percent in 2007, with income
growth for 2006 and 2007 at 1.5 percent and 1.6 percent respectively.
Fassinger said the relatively higher job growth
in the Bay Area would reverse a trend in recent years in which
jobs have grown at a slower pace in the region than in the nation
"We came late to the party,'' he said.
Fassinger said, "2005 was the year that the
economy finally returned to normal'' in the Bay Area.
Fassinger spoke at the association's 18th annual
regional economic outlook conference.
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