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The Orange County Economy Residents continue to show a lack of faith in the local economy, and expectations for the future have reached a new low. One in five rate the Orange County economy today in
positive terms, with 2 percent saying it is "excellent" and
18 percent rating it as "good." Half (49%) give the local
economy a "fair" rating, while 30 percent call it "poor."
One percent are unsure. Young people are more positive about the local economy -- 26 percent of 18- to 34-year-olds call it excellent or good, while 19 percent say it is poor. Of those 35 and older, 15 percent say it is excellent or good while 36 percent say it is poor. There are no differences in ratings of the local economy by annual household income: 21 percent with incomes of $50,000 or less give the local economy positive grades, compared with 19 percent of residents with household incomes over $50,000. There are no differences by region. As for the short-term future, 41 percent expect the Orange County economy to be in better shape two years from now than it is today. Of these, 5 percent say things will be "much better." Thirty-three percent expect it to be the same. Nearly one in four (23%) think the local economy will get even worse. Of these, 6 percent say things will be "much worse." Three percent are not sure about the local outlook. The number expecting better conditions in two years is down 5 points from last year (46% to 41%), while the number predicting a worse local economy in the future is up 7 points (16% to 23%). Again, younger residents are more upbeat about the local economy. Only 17 percent of 18- to 34-year-olds expect conditions to worsen in the next two years. Twenty-seven percent of residents 35 and older are predicting an even weaker economy. There is not much difference in future optimism by
income level. Forty percent of those earning $50,000 or less and 45
percent of those earning more than $50,000 think the local economy will
be better in two years than it is today. About a third in each group
expect no change. Twenty percent in the upper-income group and 24 percent
of those earning $50,000 or less think the economy will be in worse
shape two years from now. |
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