Your Economy—Your Credit Union

During the current COVID-19 crisis, the Leagues are committed to providing relevant economic insight from across California and Nevada to strategically position your credit union.


Nevada:

Economy Comes a Long Way but Still Working Through Issues

The greater regions of Southern Nevada and Northern Nevada are important to the entire state’s broader economic recovery as the COVID-19 pandemic continues impacting workers, households, and consumers who are integrating back into society and commerce.

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Southern California:

As Economy Hastily Improves, Workforce & Other Issues Emerge

The greater Los Angeles, Orange, Inland Empire and San Diego regions are all important to the entire state’s broader economic recovery as the COVID-19 pandemic continues impacting workers, households, and consumers who are integrating back into society and commerce.

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Northern California:

As Economy Hastily Improves, Workforce & Other Issues Emerge

The Bay Area, Sacramento, and far Northern California regions are all important to the entire state’s broader economic recovery as the COVID-19 pandemic continues impacting workers, households, and consumers who are integrating back into society and commerce.

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Nevada:

Economy to Continue Fierce Growth, Climbing Out of Deep Hole

The combined mega-regions of Southern Nevada and Northern Nevada are key to the entire state’s broader economic recovery as the COVID-19 pandemic wanes and businesses, workers, households and consumers integrate back into society and commerce.

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Southern California:

Economy Harbors Local Characteristics as Recovery Continues

The mega-region of Los Angeles, Orange, San Diego, San Bernardino and Riverside counties is key to the entire state’s broader economic recovery as the COVID-19 pandemic wanes and businesses, workers, households and consumers integrate back into society and commerce.

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Central Coast:

Economic Recovery in Motion, but Hyper-Localized by County

From Ventura to Santa Barbara, San Luis Obispo, Monterey and Santa Cruz, the central coast is at the heart of a broader economic recovery as the COVID-19 pandemic’s impact on industries, workers and consumers wanes. A brighter future is in motion, yet with the same household affordability challenges in play from years past.

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San Gabriel Valley:

Bright Spots Emerge as Economy Settles in for Long Recovery

Wedged between the coast and inland areas, San Gabriel Valley’s economy is signaling green shoots into 2021 and sustained growth in 2022 as this region recovers faster than the entire county due to a unique mixture of businesses, households, and its geographic location.

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California:

Economy to Play Major Catch-Up: Fully Back on Track by Late 2022

As California’s economy and jobs market continue playing catch-up to stronger growth in other states, experts hope “sidelined” individuals will re-enter the labor force (pool of adults willing and able to work) at higher, quicker monthly rates from 2021 – 2022. Such a trend would help boost economic and labor growth even that much more.

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North Bay:

Return to Normal on Distant Horizon as Economy Recovers

Home to a slice of coastal and inland Northern California — as well as the upper Bay Area — the unique “North Bay” region’s economic recovery continues to come at varying costs (yet new opportunities) to workers, households, and businesses as they return to normal over the next couple of years.

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Los Angeles County:

2021 is a Key Economic Year for Lower-Income Households

Although Los Angeles County’s recovery will gain notable traction in 2021 for lower-income workers, it may take until 2024 for certain industry employment levels to reach where they stood before the COVID-19 pandemic threw local households into an economic tailspin.

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Bay Area:

Outmigration and Vacancies Impacting Economic Recovery

As the Bay Area’s economy recovers, it’s residential and commercial real estate markets continue feeling the bifurcated impact of the COVID-19 pandemic: high demand for suburban homes, declining demand for downtown office space and apartments, and the potential for more residents migrating out of city centers.

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Northern Nevada:

Region on a Roll in its Recovery, Although Economic Issues Persist

Northern Nevada’s unique business diversification will aid its economic recovery in 2021 as workers and households experience what other regions are going through: a bifurcated economy with lower-wage employment playing catch-up to the higher-wage, stable workforce.

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Inland Empire:

2021 Economic Recovery Will be Unique, Just Like Local Region

Aided by its unique geography and period in history, the Inland Empire’s economy will outrun other regions in 2021 as jobs are added, businesses reopen or start for the first time, and households and workers continue recovering from last year’s COVID-19 recession.

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San Diego County:

Labor Force Growth to Fuel 2021’s Continuing Economic Recovery

As San Diego County’s economy is poised for significantly better growth in 2021, the local labor force (individuals willing and able to work) is expanding — a positive sign for businesses as many unemployed workers “rejoin” the job market in a vote of confidence against COVID-19’s lingering impact.

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Sacramento County:

‘Near Normal’ Economy by Late ’21, but Unemployment to Remain

The ongoing hit to retail, leisure, and hospitality workers — and future concern for local and state government employees — will continue impacting the greater Sacramento region’s economy as it slowly recovers and starts to return to “near normal” by late 2021.

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Northern California:

Economy One Step Ahead, but Should Focus on Pre-COVID Efforts

Northern California’s continuing economic recovery in 2021 is highly dependent on past years’ wildfire rebuilding efforts that were in play before COVID-19 arrived, as well as fostering a more skilled local workforce and getting the spread of the pandemic under control.

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California:

First-Half 2021: Faster Growth Potential, Yet Slow Return to Normalcy

After slowing in late 2020, California’s economic recovery is expected to kick into higher gear during early 2021 — although much hinges on the state’s reaction to weekly COVID-19 numbers, the vaccine distribution effort, and persistent restrictions on businesses and gatherings.

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Orange County:

2021 Growth Will Lag Other Regions as Recovery Limps Along

Although Orange County’s economic growth will severely lag the state and nation in 2021, the coming year is destined to provide a positive foundation for local businesses, workers, and households as the recovery limps along after the COVID-19 recession in spring of 2020.

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Bay Area:

2021’s Economic Recovery is About Location, Jobs, Housing

Although the Bay Area’s economic recovery will kick into high gear during the first-half of 2021, certain localities within the nine-county region are still playing catch-up in their respective job markets and industries compared to others that are faring much better as of late 2020.

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Southern Nevada:

Select Job Industries to Bridge Economic Recovery During 2021

Southern Nevada’s economic recovery will gain more momentum by late 2021 and finally reach a pace of growth commensurate with what local business leaders and consumers have been expecting. Until then, very select job industries will help bridge the region to fully recuperating from the impact of the COVID-19 recession.

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