the humboldt county economy in 2009 by erick eschker presented to eureka old town rotary club...
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![Page 1: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/1.jpg)
The Humboldt County Economy in 2009
By Erick Eschker
Presented to Eureka Old Town
Rotary Club
December 2, 2008
![Page 2: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/2.jpg)
The Humboldt County Economy in 2009
By Erick Eschker
Department of Economics
Humboldt State University
Humboldt Economic Index
www.humboldt.edu/~indexhum
![Page 3: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/3.jpg)
Humboldt Economic Index Sponsors
![Page 4: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/4.jpg)
Six Sectors and Composite
• Energy
• Lumber-based manufacturing
• Employment
• Hospitality
• Retail
• Housing
• Composite
![Page 5: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/5.jpg)
Gas Prices are down, and will stay lower as the Recession continues
![Page 6: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/6.jpg)
County Unemployment Rates 3rd highest since Jan. 1994
![Page 7: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/7.jpg)
Employment has started to fall
![Page 8: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/8.jpg)
• Biggest drops in Construction and Financial Services (included real estate agents and lenders)
![Page 9: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/9.jpg)
Leading Indicators:Claims for Unemployment Insurance
![Page 10: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/10.jpg)
Help Wanted
![Page 11: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/11.jpg)
Housing Sales
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Housing Prices
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Foreclosures
• Foreclosures in Humboldt County have gone from record lows to record highs
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![Page 15: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/15.jpg)
How far does Housing have to fall?
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Inflation Adjusted Prices slowly falling
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Price to Rent ratio falling
![Page 18: The Humboldt County Economy in 2009 By Erick Eschker Presented to Eureka Old Town Rotary Club December 2, 2008](https://reader036.vdocument.in/reader036/viewer/2022062308/56649d445503460f94a20259/html5/thumbnails/18.jpg)
Overall Economic Activity is down this year
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National News
• Recession officially started December, 2007
• Exports slowing due to recessions abroad
• Record or near record lows on US Treasury Bonds (flight to safety)
• Credit Crunch (credit cards and other lending)
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State News
• Budget Crisis
• $11.2bil Deficit
• Governor calls for decreased spending on CSU, CalWorks, Medical and increased employer unemployment contributions
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Uncertainty for Humboldt County
• How bad will national recession be?
• When will credit markets stabilize?
• Effect of past and future Bailouts/Stimulus packages
• Will state employment be cut significantly?
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The Humboldt County Economy in 2009
By Erick Eschker
Department of Economics
Humboldt State University
Humboldt Economic Index
www.humboldt.edu/~indexhum