Forecast predicts East Bay economy will rebound

May 5, 2011 8:31:25 PM PDT
Economists are predicting the East Bay will become one of California's fastest growing regions once again, but it'll take a while.

According to a forecast issued Thursday, the east bay unemployment rate will remain above 10 percent until early next year, but by 2013, employment will reach one million jobs.

The forecast also predicts East Bay home sales will remain slow and prices will not recover much because of the high foreclosure rate.

But, it says, the Port of Oakland is well positioned to thrive as the dollar strengthens and the world economy rebounds.