Top economists at Monday’s annual Southern California Association of Governments(SCAG) Summit said the region is in for a slow pandemic recovery with lower income groups continuing to suffer most.
With the disproportionate loss of low income and entry level jobs and continued rising housing costs, experts say the pandemic is making clear the weaknesses and inequalities that existed before the virus upended the economy. This is why many are stressing the need for an inclusive economic development plan.
Like all of the city and county members of SCAG, the Inland Empire saw its tourism related sectors hit the worst. Regional economists predict it will be well after 2021 before a return to pre-pandemic highs.
In a press release, chief economic advisor for the group, Wallace Walrod, said
that while the recovery will be long, Southern California Counties have the advantage of a historically strong economy, and that government leaders are using the opportunity to re-imagine the future.