Business and community leaders convened in Oroville yesterday for the 17th annual North State Economic Forecast Conference, hosted by Chico State’s Center for Economic Development.
The economists who spoke predicted another year of slow growth nationally, and highlighted issues Californians in particular should pay attention to.
But first, macroeconomist Dr. Robert Eyler of Sonoma State University addressed one topic undoubtedly on many attendees’ minds – the effects of Donald Trump’s presidency.
“The number one thing to think is that there’s no reason to panic, right," Eyler said. "One person in the White House is not going to change policy across the board overnight."
Among other speculations, he said that the expected repeal of the Affordable Care Act will adversely affect local communities.
“Regardless of what you may think,” Eyler said, “it’s going to basically be a redistribution of dollars back to the federal government. So it’ll be sold as government savings, but it’ll be borne on the backs of local governments and of local primary health care providers.”
In California, while slow economic growth sounds beneficial, economist Bill Watkins of Cal Lutheran University says it does have one negative.
“I often get people say, well, slow and steady – that’s all good,” he said. “Well, it’s all good if you’re in the upper middle class.”
He noted that while California has a lot of wealth, there’s also a lot of inequality between coastal and inland communities. And in slow growth periods, it’s harder for those of lower socioeconomic status to improve their situations.
He said one opportunity for rural and inland cities is to make themselves attractive to migrating retirees by investing in public safety, health services, and amenities.