The report, authored by Jeff Michael with the university’s Business Forecasting Center, states that job losses caused by the foreclosure crisis exceed job losses from Sacramento-San Joaquin River Delta water pumping restrictions by a ratio of 8 to 1. While media reports cite lost jobs due to water shortages between 30,000 and 90,000 jobs, the report pegs the number closer to 6,000 jobs and $170 million in lost wages.

By comparison, the report states that job losses from the foreclosure crisis have cost the Valley 47,000 jobs and $1.8 billion in lost wages.

The report challenges a University of California, Davis study estimating farm job losses up to 80,000 and revenue loss up to $1.6 billion. Michael contends the oft-cited study uses flawed multipliers that overestimate the effects of job losses.

Michael was the recent author of a newspaper commentary also challenging the reported impacts on Valley farms from water shortages, garnering him opposition from local farm groups.

Shawn Coburn, a Fresno County almond farmer and a founder of the California Latino Water Coalition, said Michael has compromised his credibility by distorting facts and figures to support environmentalist positions.

Coburn believes the loss of only 6,000 jobs is a gross underestimation on Michael’s part.

“He has self-appointed himself some kind of economist grand juror,” Coburn said.

The full report can be downloaded at here.