L.A. County is expected to see its unemployment number rise to 12.8 percent, according to the new economic forecast. In San Bernardino and Riverside counties, unemployment is expected to hit 14.7 percent next year, and in Ventura County, unemployment is expected to inch up to 10.3 percent.
The economic forecast is also predicting that personal income throughout the state will fall about 2 percent. It would be the first time that has happened since the Great Depression.
There is some good news in the report. The EDC is expecting the health care sector and private education to continue growing, and the federal stimulus program should bolster the construction industry.
But drops in international trade, manufacturing, tourism and home construction will drag the overall numbers down.
L.A. County is expected to lose 168,000 jobs this year.
But despite the discouraging numbers, local residents had a brighter outlook.
"I've been in business for 30 years. I think we'll come out of it," said Kate Barnhart, an Ojai resident.
"We've been through a few of these cycles before, certainly none as dramatic as this, but I think we'll come out of this next year."
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