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Article: Area businesses, cities feeling budget crunch
- Article from:
- Inland Valley Daily Bulletin
- Article date:
- February 6, 2009
- Author:
CopyrightCopyright 2009 Inland Valley Daily Bulletin. Provided by ProQuest LLC. (Hide copyright information)
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Southland businesses and cities are weathering tough financial
times reflected in almost daily reports showing rising unemployment,
plummeting consumer spending and a shrinking national economy.
Nationally, the unemployment rate has reached 7.6 percent, the
highest level in 16 years. In the San Bernardino-Riverside-Ontario
metropolitan region, that rate is a whopping 10.1 percent.
As that rate rises, the number of customers spending their
paychecks at local businesses declines.
Even CO-OP Financial Services in Rancho Cucamonga has felt the
effect of a struggling economy.
"Since one of our four lines of business is processing debit
cards transactions, we're seeing slower year-over-year ...