Chamber Forecasts Light At End Of Unemployment Tunnel

"We're not going to do great, but we're not going to do horrible," the chamber's Bill Lafayette said.

By: Donna Willis | NBC4i.com
Published: December 18, 2008

CENTRAL OHIO -- The nation's economic downturn certainly hasn't spared Central Ohio, but a new report shows new jobs may be coming and that some industries will take a hit.

Here are the FAST FACTS:
Unemployment has at least leveled off -- if not improved.
Initial claims for unemployment benefits fell last week but remain near a 26-year high.
The report of 554,000 new claims was better than expected. That's all according to the U.S. Labor Department.

NBC 4's Matt Alvarez reported on bright spots in Central Ohio's employment future.

The economic forecast for next year was a surprise to some Columbus business professionals who thought the forecast would be much worse

Economists expected the economic downturn to continue in Central Ohio, but some said joblessness won't be as widespread as the national average next year.

"We're not going to do great, but we're not going to do horrible," Bill Lafayette said.

Lafayette is vice president of economic analysis for the Columbus Chamber of Commerce, and he spoke to a roomful of eager business professionals Thursday. Those professionals were in attendance to hear the chamber's economic forecast for 2009.

BREAKDOWN
The chamber expected a 0.4 decline in jobs next year in the Columbus metro area. That's 3,500 jobs that will be slashed in a number of industries, including government employment (down 1 percent), construction (down 3.3 percent), retail (down 2.1 percent) and manufacturing (down 2.4 percent).

Some at the forecast meeting thought the declining numbers would be higher.

"It's a lot better than I anticipated coming into the meeting. It's good news to hear," Derek Benseler said. Benseler is with Focus Business Solutions.

Some industries will see growth next year, according to the chamber: education, health care, the hospitality industry and social and financial services.

Lafayette said there will be light at the end of the unemployment tunnel but it may not come until late 2009 or early 2010.

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