Economists Trim Job Growth Projections

In the latest sign that economists are feeling less optimistic about the area’s economy, Cal State Fullerton economists said employers will be adding fewer jobs this year than anticipated. The latest projections came during an update of the university’s annual forecast, which was released in October. The report also warned that the energy crunch could cool things down even more. The university’s economists now expect Southern California’s jobs to grow at a rate of 2.4% this year, compared with a 2.7% growth rate projected earlier. Orange County’s job growth projections were trimmed to 2.7% from 3%. Although still healthy, the growth rate would be the lowest in four years, said Anil Puri, dean of the College of Business and Economics. Puri listed tourism as one of the areas likely to be affected the most, a reflection of dwindling consumer confidence.