According to the Center for Economic Analysis and Forecasting (CEAF) at California State University Fullerton, the region’s economy has been in recovery since the end of the recession in 2009. The report shows the Southern California economy increasing every year for the past four. And, it saw a 1.11 percent jump from quarter four of 2013 to the first quarter of 2014. Economists say that the continued increase bodes well for continued growth in the Southland’s economy in the next quarter to half year. As a SoCal shredding business, we see this as good news.
Southern California Economy: Slow & Steady
Growth is steady but slow in the five-county areas that makes up SoCal. Robert Kleinhenz, the Keyser Center for Economic Research’s chief economist, says that the expectation for future growth is something between the current tepid trend and breakout growth. He expects modest job growth in the area for most private-sector niches, not including manufacturing. He does say that total nonfarm employment isn’t expected to reach pre-recession levels until late 2014 or early 2015.
Kleinhenz says that some key Southern California economic indicators, such as sales tax collections and unemployment, are expected to improve throughout 2014. Such improvement signals overall economic growth and can fuel additional growth due to consumer and business confidence.
Optimism Across the Country
According to a mid-year economic update from the CSUF Mihaylo College of Business and Economics, there are reasons to be optimistic about the Southern California economy as well as the economy across the nation. Decisions in Washington, including an increase of the debt ceiling and the 2013 budget deal, remove some fiscal-policy deterrents to economic growth. Growth in the housing sector continues to improve, and high margins and business success in the private sector are good signs for future job growth. Globally, risks are down, improving the chance of success in any location.
The Southern California economy isn’t out of the woods yet. However, based on numerous economic indicators, the region has reached the well-worn path, making the journey up the hill much easier for many.
When Business Grows… So Does Data
As Southern California businesses grow, so does the amount of paperwork that contains sensitive client data. Regular shredding should be on your business’ to-do list. At Sergeant Shredder, we make it easy.
First, we service all of Southern California from Ventura County to the Mexican border and from the Pacific Ocean east into the Desert Communities. Our mobile shredding trucks come to you where we shred on site. No need box up materials and travel to a shredding location. Since time is money, you save both when you hire Sergeant Shredder.
Second, we offer free secure document bins for our regular shredding clients. With designated shred bins within your office, it makes it easy to keep confidential information safe in between onsite shredding visits.
Are you noticing an uptick to Southern California’s economy?