Economists Say Employment Will Pick Up In California
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LOS ANGELES (AP) — Employment will pick up slowly this year and next in California with economists expecting the state’s unemployment rate to drop to 8.5 percent in 2014.
But UCLA Anderson Forecast economists say job growth could be threatened if there’s any slowing of China’s economy and a worsening of the financial crisis in Europe.
The Anderson Forecast released Thursday shows California has been outperforming the nation in job creation since January 2010 with the state’s tech boom creating new jobs each month.
City News Service says economists expect California’s unemployment rate to hover around 10.7 percent through the rest of this year. It is expected to average 9.8 percent next year and drop to about 8.5 percent in 2014.
Copyright 2012 The Associated Press.