Richard Chapman, president and CEO, Kern Economic Development Corp.:

In terms of KEDC's level of business development activity, we are seeing some signs that the worst may be over. However, the answer should become obvious within the next 60 to 90 days, since the months of August and September are traditionally the peak employment periods of our agriculture- and energy-based economy. The current job market stagnation resembles an "L" curve, and we are in a "holding pattern" -- neither gaining nor losing further jobs.

Fortunately, for Kern County, the economic downturn has not been nearly as bad as it has for most regions throughout the state and United States. While Kern has shed about 2 percent of its employment base since last summer, California and the United States have lost 4.5 percent and 4 percent of their respective job bases.

Indeed, IHS Global Insight recently projected that Kern County would be the first county in the state and one of seven counties in the nation to return to pre-recession employment in the next two years.

(Richard was one of five local business leaders to be featured in the story)

To read the story in its entirety, please visit:
http://www.bakersfield.com/news/business/economy/x746309700/Is-the-recession-over-We-asked-locals-in-business-what-they-think