Locally Felt - A Strong Pulse
Posted by Karen Thomas on Wed, Mar 31, 2010 @ 10:29 PM
A steady beat was felt at one of the country's must influential ports. This afternoon, the Port of Long Beach put on its annual "Pulse of the Ports", which serves as platform for not only the POLB, but industry professionals to project where trade is headed in the next year and beyond. The past two years have not been easy for the trade industry and west coast ports in general. Thousands of Southern Californians rely on the POLB and the Port of Los Angeles for work. Job growth has paralleled that of the rest of the nation while keeping one's job has been hard enough for some individuals. Despite the discouragements, the Pulse of the Ports produced forecasts with with a positive tone as the industry and the economy show signs of strength.
The POLB website included the following statement from Dr. Joseph Magaddino - Cal State Long Beach's Economics Department Chair, who reported, "While the recession is over, the recovery remains weak," said Joseph Magaddino, Ph.D., chair of the Department of Economics at California State University, Long Beach, and one of the seven panelists. The morning event brought about 500 attendees to the Hyatt Regency Hotel in downtown Long Beach," (www.polb.com.)
Those signs of strength include reports that trade was up 13% this past January and February in both the LA and Long Beach harbors. In addition the Los Angeles Times reported that, "Peter Peyton, president of the International Longshore and Warehouse Union, Marine Clerks Assn. Local 63 in San Pedro, said that dockworkers who had been getting only two or three days of work a week last year were now averaging three to four days," (www.latimes.com.)
The demand for retail still wanes though, reducing the need to ship foreign made products through Southern California's trade arteries. Worldwide, ocean freight carriers lost a reported $22 billion dollars - a large chunk of change to replace in a recuperating economy.
According to the Los Angeles Times, the international trade industry employs more than 300,0000 individuals in Southern California. With competition from Mexican and Canadian Ports, analysts are quick to point out the difficulties in boosting trade.
The sentiment in Long Beach today though was strong and steadfast, leaving attendees and the industry at large with the positive signs to move forward.