With expectations of another year of lethargic economic growth, companies are responding to the “new normal” with almost constant cost-cutting. This risks a vicious circle of job cuts leading to weak consumer spending, contributing to more company cost-cutting.
Bay Area residents can take some comfort in living and working in one of the country’s strongest regional economies.
“I hear a lot of Californians complaining about their state’s economy. They should visit Florida, Georgia or Alabama,” said Hamal Mustafa, who follows the states’ banks as CEO of New York-based Invictus Consulting Group.
Read more: San Francisco Business Times Bay Area bright spot