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Chapman: Slower Growth Ahead for OC

A report released this afternoon by Chapman University in Orange indicates a softening of economic and employment growth in Orange County.

Chapman University’s A. Gary Anderson Center for Economic Research, which produced the report, forecasts job growth of 2.5% for Orange County this year, to about 1.58 million jobs.

Local employment grew by 3.2% in 2015.

“Even more alarming is that most of these jobs are being generated in low-paying categories” such as leisure and hospitality, the research center said.

The study said OC’s taxable sales will grow by somewhere between 3.1% to 4.1% this year, lower than a projected range of 3.6% to 4.3% growth statewide.

Taxables sales grew by about 3% in OC last year, with a 3.6% increase statewide.

All signs also suggest that the seven-year economic recovery in the U.S. is weakening, the research center said, pointing to declines in recent months on industrial production, hires of temporary workers, and labor productivity.

The U.S. economy will likely grow in a range of 1% to 2% for the full year, the research center said.

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