Economic Forecast Predicts Little Job Growth in CA in 2012

LOS ANGELES (AP) – An economic study says California’s hard-hit inland areas will continue to be a drag on the state’s economy, with the construction industry that had fueled the region’s growth showing little sign of recovering. The quarterly Anderson Forecast from the University of California, Los Angeles, released Tuesday says the region has years to wait for a broader economic recovery so that other sectors can emerge to fill the vacuum left behind by the construction industry. The forecast predicts virtually no statewide employment growth through 2011. Employment is expected grow 0.7 percent in 2012 and 2.1 percent in 2013. The study predicts unemployment will remain at around 12 percent through 2012 and that it will average about 11 percent through 2013. Single-digit unemployment numbers are not expected for the state until 2014.

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

%d bloggers like this: