California is in a Depression. We have lost a total of 855,000 jobs in five years. Real unemployment is over 20% and the deficit is now, when all is counted more than $35 billion—and growing.
“Nickelsburg goes on to predict that California employment will grow 1.9 percent this year, a rate that will be comparable to the rest of the nation.
In February, California’s jobless rate was 11.4 percent, compared to the nation’s 8.7 percent. Sacramento’s unemployment rate was 11.4 percent.”
The modest increase will not happen if Brown, Munger and the unions get their $160 billion of tax increases passed. In fact, the California Depression will get deeper.
Along with this you have billions in local tax increases to be voted on in June and November, along with an $11 billion water bond.
UCLA made its study based on no more taxes and responsible government—a fairy tale report.
Forecast predicts modest economic growth for California, nation
Sacramento Business Journal by Michael Shaw, 3/27/12
California employment will grow modestly this year at about the same rate as the nation, writes an economist with the University of California, according to an economic forecast.
California employment will grow modestly this year at about the same rate as the nation, writes an economist with the University of California , according to a forecast released Wednesday.
The finding of the UCLA Anderson Forecast suggest that California’s unemployment rate has remained higher than the nation as a whole because fewer Californians removed themselves from the labor market — not because the job situation is necessarily worse in California.
Senior economist Jerry Nickelsburg said that the state’s penchant for boom or bust cycles created a temptation to blame the disparity between the U.S. and California’s unemployment rates on an excess of construction and related workers, just as there was an excess of aerospace workers in the early 1990s.
But he noted in the forecast that unemployment rates do not account for potential workers who are not actively seeking work, such as those who are discouraged and have removed themselves from the job market or retired earlier than they had planned.
The U.S. saw such a decline in its labor force but he found no comparable dip in the California labor force.
Nickelsburg goes on to predict that California employment will grow 1.9 percent this year, a rate that will be comparable to the rest of the nation.
In February, California’s jobless rate was 11.4 percent, compared to the nation’s 8.7 percent. Sacramento’s unemployment rate was 11.4 percent.
These people, who live in fairy tale land, better wake up and smell the coffee. CA is creating new jobs, unfortunately for those living here, they are in Texas, AZ, NV, etc.
March 29, 2012 at 9:53 am