Washington revenue forecaster resigns; takes private sector job

OLYMPIA, Wash. – His job was to predict Washington revenues through the worst economic storm since the Great Depression. Now Washington’s chief economic forecaster is resigning to take a job in the private sector.

Arun Raha announced Wednesday that he will step down at the end of the month after an intense three years on the job. Raha’s early forecasts underestimated the impact of the recession on state revenues. At his announcement in Olympia he offered up his customary deadpan.

“We’ve pretty much been on target since September if you noticed and I thought how long can this treat last so let me quit while I’m still ahead,” Raha said.

Raha has said the economic storm was so fierce his forecast models early on were rendered ineffective. Nonetheless, he retained the confidence of the state’s bipartisan economic forecast council. Raha is leaving to take a job with the Eaton Corporation in Cleveland, Ohio. Washington’s next revenue forecast is due out next month.

Copyright 2012 Northwest News Network