the republic logo

Report: California's economy to continue its steady recovery, with jobless rate falling

bug
Share/Save/Bookmark

LOS ANGELES — A new report says California's economy is expected to continue its steady recovery and predicts the state unemployment rate will drop nearly two full percentage points by the end of 2016.

The UCLA Anderson Forecast released Wednesday says the jobless rate will likely hover around 7.1 percent through the remainder of this year, fall throughout 2015, and reach 5.3 percent within two years.

The university economists say in their quarterly report that as unemployment numbers drop, payrolls will grow at about the same rate. Personal income growth is estimated to jump from 3.1 percent this year to 4.5 percent in both 2015 and 2016.

The forecast says the growth of California's manufactured goods sector will be hindered by tepid growth in parts of Asia and Europe.

Think your friends should see this? Share it with them!

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.