Addendum with evidence (8.2 MB) - Accreditation - Bakersfield ...

U.S. Economic Indicators
Sources: Bureau of Economic Analysis, Bureau of Labor Statistics, Office of Management and Budget, Keyser
Center for Economic Research, Los Angeles Economic Development Commission
U.S. Interest Rates
Sources: Federal Reserve Bank, Keyser Center for Economic Research, Los Angeles Economic Development
Commission
Implications for Bakersfield College (including the Delano Campus and Weill Center):
• While the national economy is improving, it will be a very slow process. Regaining the
ground that was lost will take several years.
• Because there is an imbalance among the key economic indicators, some growing, some
lagging, the recovery will be in fits and starts.
• Expect high unemployment rates to continue, as business and industry, although growing,
are reluctant to commit to expand or either rehiring laid-off personnel and/or new hiring.
• U.S. jobs that will see growth will be in the sectors of Education and Healthcare, Business
and Professional Services, Tourism, Manufacturing, and Retail Trade.
• Real estate assets will continue to be depressed until the number of foreclosures is decreased.
• Federal spending will focus on workforce training and education, unemployment and
healthcare programs.
• Higher costs for energy can be expected, with projected cost increases for oil and natural gas.
Higher prices at the pumps will likely impact the education choice for students who travel a
great distance or do not have access to public transportation.
• The looming $1.5 trillion federal budget deficit will affect consumer confidence, including
those of taking-on additional tax burdens.
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