Posted on 09/11/2014 1:00:43 PM PDT by BenLurkin
LOS ANGELES (CBSLA.com) — California’s economy will continue to show steady but unremarkable growth in the months ahead, according to a UCLA economic forecast released Thursday.
The state’s quarterly economic outlook shows that although job numbers are at an all-time high, the state is still performing below its potential in employment and output, UCLA senior economist Jerry Nickelsburg wrote in the Anderson Forecast.
“That we are entering the sixth year of expansion just illustrates how painfully plodding this recovery process has been,” Nickelsburg wrote.
Personal income in the state is expected to grow by 4.4 percent and 4.6 percent over the next two years, slightly better than the nation as a whole, while employment will continue to grow and lower the state’s unemployment rate to 5.7 percent by 2016, according to the forecast.
Housing prices will continue to rise, but the state is continuing to face a shortage of new homes.
“However, construction permits have been increasing and our expectation is that this will continue through the forecast horizon,” Nickelsburg wrote. “The U.S. forecast for new home starts is for them to increase by 5 percent in 2015 and the same is expected for the Golden State. Due to the faster job growth than the U.S. the 2016 forecast for (California) is for 3 percent growth, slightly faster than for the nation.”
The state’s economy, Nickelsburg said, could be affected by new labor, health care and environmental policies. However, the forecast may be underestimating the state’s upcoming income and job growth.
“Though these risks exist, the fundamentals of California and the U.S. suggest the most likely evolution of the California economy is one of more of the same — slow, steady and unexpected growth,” he wrote.
IF YOU SHOOT SOMETHING IN THE FOOT REPEATEDLY, IT WILL PROBABLY PLOD PAINFULLY ALONG!
Mexifornia is done.
Put a stick in it.
Mexifornia is done.
Put a stick in it.
The Golden Goose continues to put on weight despite being throttled to death.
Put some more TAXES in place... yup...That ott’a work!! :)
Build more high speed trains to nowhere and DO NOT build desal plants. And as you pointed out raise taxes and fees by all means possible. Taxes on the taxes!
“...painfully plodding this recovery process...”
Alright, break out the bands: “Happy days are here again,
FDR has saved the day again...”. Oh wait, FDR has thankfully exited the scene to grace Hell with his presence.
“Happy days are here again,
Bernanke has saved the day again ....”. Oh crap, the Bernank has bailed out and left Yelling & Weeping holding the bag of sh!t.
“Happy days are here again,
His Arrogance is going to start WWIII to save us again....”
I am the owner of a small business in the commercial printing industry in the Los Angeles area.The recession hit us in 2007 and 2008, 2009 were disasters. We had significant losses in those years which included major bad debts and customers falling like flies. Cost cutting and layoffs were implemented and racheted down even more when possible. Finally 2010 through the present were survivable with little room to spare. We felt lucky to survive especially when considering that thousands of small business buildings sit vacant and parking lots of continuing businesses are half full compared to prior years.
At present, things are slowing down again if anything. Getting price increases for our product is a dream. I have given no raises to any employee since 2007. No one has quit and everyone is happy to be here. If the economy does dip down some more we will struggle to break even. The next move will be to eliminate health insurance on the few employees who bother to sign up for it. I am so tired of this. I am not rich and barey bring home enough money for our bills. It is a never ending nightmare. Frankly, my biggest hope is that the Democrats get creamed in November and this will spark some form of optimism in the business world. We shall see. Obama is the greatest transformer of America ever seen in our history.
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