By Manfred Keil and Jinghan Hu
Abstract:
National unemployment data for August is trending in the direction of an economic downturn – but how severe or mild is that recession expected to be? Most forecasters do not predict a (very) “Hard” landing for the U.S. economy. However, there are factors that magnify economic challenges in the Inland Empire, including impacts to the region’s transportation, warehouse, and logistics sectors. This report explores the latest round of challenges but also explains why the downturn is not something to panic about.
Keywords: recession, unemployment rate, Inland Empire unemployment rate, Inland Empire economy, California economy, warehouse, logistics