California's budget problems dominated the dialog at the convocation to open the new semester at Sonoma State University.

Sonoma County has not been spared by the national economic recession, but economist Steve Cochrane says its effects should be less severe here, with recovery underway by this time next year.

Even though unemployment is up for Sonoma County, and other economic indicators reflect the local effects of the global recession, Cochrane says that, so far at least, our area is weathering the downturn better than many other regions.
     
It will likely take most of the next 12 months for the Sonoma County housing market to stabilize, Cochrane predicts, with joblessness following a similar arc back toward more acceptible levels late this year and in early 2010.

 

Cochran also conducts research for the Sonoma County Innovation Council , which has recently released its own economic forecast, viewable here.

The Sonoma County Economic Development Board hosted the 6^th annual State of the County breakfast Wednesday morning, with Supervisor Paul Kelley delivering the centerpiece address. KRCB was there to record and bring you his talk.

Supervisor Paul Kelley