I’ve seen a summary of this last night in the news. Now, I see it in the UT. I guess it’s time to track this micro econ indicators from our backyard. I wish Alan Gin provided a chart, but we’ll use/track the text too.
Here are some snips:
“County’s economic indicators down again
February’s 2.7% drop is steepest on record
By Dean Calbreath (Contact) Union-Tribune Staff Writer
6:41 p.m. March 26, 2009
San Diego’s index of leading economic indicators plummeted by its largest amount ever last month, driven by sharp declines in building permits, consumer confidence and hiring.
The index, released Thursday by the Burnham-Moores Center for Real Estate at the University of San Diego, has declined in 34 out of the past 35 months.
But February’s drop was particularly severe and implies a rough road ahead for the economy. USD economist Alan Gin said the data suggest that the local economy is likely to remain in a downturn for the rest of this year, with heavy year-over-year job losses and a double-digit unemployment rate.
“What’s been stunning to me is how rapidly the index has fallen,” Gin said. “Some of the indicators have just fallen off a cliff, such as building permits, consumer confidence and the labor market
But February’s drop was particularly severe and implies a rough road ahead for the economy. USD economist Alan Gin said the data suggest that the local economy is likely to remain in a downturn for the rest of this year, with heavy year-over-year job losses and a double-digit unemployment rate.
“What’s been stunning to me is how rapidly the index has fallen,” Gin said. “Some of the indicators have just fallen off a cliff, such as building permits, consumer confidence and the labor market.
The county lost 37,900 jobs compared with the same month last year. The sectors losing the most jobs included construction, down 10,100 jobs; retail, 8,600; administrative and support services, 5,700; manufacturing, 5,200; wholesale, 3,400; leisure and hospitality, 2,900; and finance, 2,500. ”
There was a thread on SDL regarding this. It’s more stunning that a man whose job it is is to review data would be blindsided by this. Piggs saw it coming long ago.
There was a thread on SDL regarding this. It’s more stunning that a man whose job it is is to review data would be blindsided by this. Piggs saw it coming long ago.
There was a thread on SDL regarding this. It’s more stunning that a man whose job it is is to review data would be blindsided by this. Piggs saw it coming long ago.
There was a thread on SDL regarding this. It’s more stunning that a man whose job it is is to review data would be blindsided by this. Piggs saw it coming long ago.
There was a thread on SDL regarding this. It’s more stunning that a man whose job it is is to review data would be blindsided by this. Piggs saw it coming long ago.
Not only did we see it coming long ago, we warned him directly. Hell he even posted on this site once to defend himself against attacks that were made against him. It had become obvious to this and other communities what was happening and yet Gin kept producing Pollyanna-ish analysis.
Given that history its not shocking that he is shocked at the rate of decline.
Not only did we see it coming long ago, we warned him directly. Hell he even posted on this site once to defend himself against attacks that were made against him. It had become obvious to this and other communities what was happening and yet Gin kept producing Pollyanna-ish analysis.
Given that history its not shocking that he is shocked at the rate of decline.
Not only did we see it coming long ago, we warned him directly. Hell he even posted on this site once to defend himself against attacks that were made against him. It had become obvious to this and other communities what was happening and yet Gin kept producing Pollyanna-ish analysis.
Given that history its not shocking that he is shocked at the rate of decline.
Not only did we see it coming long ago, we warned him directly. Hell he even posted on this site once to defend himself against attacks that were made against him. It had become obvious to this and other communities what was happening and yet Gin kept producing Pollyanna-ish analysis.
Given that history its not shocking that he is shocked at the rate of decline.
Not only did we see it coming long ago, we warned him directly. Hell he even posted on this site once to defend himself against attacks that were made against him. It had become obvious to this and other communities what was happening and yet Gin kept producing Pollyanna-ish analysis.
Given that history its not shocking that he is shocked at the rate of decline.
These analysts that are so “shocked” kill me. Caught in a consensus trance of “wish-upon-a-star” thinking, misguided economic dogma and pleasing their pay masters. This guy serves NO purpose. Him and his magic eight ball need to go away.
These analysts that are so “shocked” kill me. Caught in a consensus trance of “wish-upon-a-star” thinking, misguided economic dogma and pleasing their pay masters. This guy serves NO purpose. Him and his magic eight ball need to go away.
These analysts that are so “shocked” kill me. Caught in a consensus trance of “wish-upon-a-star” thinking, misguided economic dogma and pleasing their pay masters. This guy serves NO purpose. Him and his magic eight ball need to go away.
These analysts that are so “shocked” kill me. Caught in a consensus trance of “wish-upon-a-star” thinking, misguided economic dogma and pleasing their pay masters. This guy serves NO purpose. Him and his magic eight ball need to go away.
