Transcript The Humboldt County Economy inBy Erick Eschker HSU Department of Economics www.humboldt.edu/~indexhum Presented to Humboldt Unitarian Universalist Fellowship August 30, 2009

The Humboldt County Economy in
2009
By Erick Eschker
HSU Department of Economics
www.humboldt.edu/~indexhum
Presented to Humboldt Unitarian Universalist
Fellowship
August 30, 2009
Unemployment
• Humboldt County
– Slight decline in July
– Almost double from two years ago
– Biggest annual losses in Fed. Gov., manufacturing,
services
– Biggest annual gain in education, farming
• State of California
– Highest since started tracking in 1976, likely highest
since Depression
• National Level
– Slight decrease
– Expected to rise to double digits over next year
Jul 2005
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar 2006
Apr 2006
May 2006
Jun 2006
Jul 2006
Aug 2006
Sep 2006
Oct 2006
Nov 2006
Dec 2006
Jan 2007
Feb 2007
Mar-07
Apr 2007
May 2007
Jun 2007
Jul 2007
Aug 2007
Sep 2007
Oct 2007
Nov 2007
Dec 2007
Jan 2008
Feb 2008
Mar 2008
Apr 2008
May 2008
Jun 2008
Jul 2008
Aug 2008
Sep 2008
Oct 2008
Nov 2008
Dec 2008
Jan 2009
Feb 2009
Mar 2009
Apr 2009
May 2009
Index Value
Seasonally Adjusted Home Sale Index, Humboldt County
175
150
125
100
Index (Jan '94=100)
4 month Moving Average
75
50
Month
Source: Humboldt Economic Index
Humboldt County Housing Price to Rent Ratio, 1989-2009
(medium home price/mean rent, adjusted for expenses)
35
31
23
18
14
Source: Humboldt Economic Index
Year
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
10
1989
Price/Rent
27
Things to watch
• State spending/budget
• Commercial real estate
• Financial sector/bank failures