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Orange County Economy Perceptions of the current state of Orange County's economy, and expectations for the future, suggest that many residents have lost faith in the local economy that provided an abundance of jobs and prosperity in the 1980s. One in five rate the Orange County economy today in positive terms, with only 1 percent saying it is "excellent" and 18 percent rating it as "good." The majority of residents (52%) give the local economy a "fair" rating, while 28 percent say it is in poor condition. One percent are unsure. There are no differences in ratings of the local economy by annual household income. Eighteen percent with incomes of $50,000 or more give the local economy positive grades, compared with 20 percent of those residents with household incomes over $50,000. There are also no differences by age or region. Fewer than half (46%) expect the Orange County economy to be in better shape two years from now than it is today. Of these, 8 percent say things will be "much better," while 38 percent say they will be only "somewhat better." Thirty-three percent expect it to be the same. Sixteen percent think the local economy will get even worse. Five percent are not sure of the local outlook. Forty-one percent of those earning $50,000 or less think the local economy will be better in two years than it is today, compared with 53 percent of higher-income individuals. Thus, a sizeable proportion of residents in both lower- and higher-income brackets expect little or no change in the local economy over the next two years. There are no differences in levels of optimism about the local economic outlook by age or region. |
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