Inland Empire Could Suffer Economic Hit

Inland Empire Could Suffer Economic Hit: Southern California's Inland Empire, home to the massive warehouse and distribution complex that serves the ports of Los Angeles and Long Beach, will suffer its largest loss of jobs in 44 years, a new study predicts. Declining imports through LA-Long Beach , a U.S. economic recession and consumer confidence that is at its lowest point since 1973 indicate that the logistics sector will be a drag on the local economy for much of 2008, local economist John Husing wrote in a report issued last week. As high oil prices and the weak dollar drag down discretionary spending on consumer goods, most of which are imported from Asia, Husing projects that the Inland Empire this year will lose 17,900 jobs overall, the region's worst slowdown since 1964. Although most East and Gulf Coast ports are faring better than LA-Long Beach, weakness in the housing market and softness in consumer spending will slow growth in the logistics industry nationwide, Husing said. The Inland Empire, located about 50 miles east of Los Angeles, has been the bellwether of the U.S. logistics industry for two decades. Hundreds of warehouses process imported merchandise for distribution nationwide.