Kalifornia's Future.
Posted on 03/28/2010 9:49:31 AM PDT by SmithL
Californians are very worried about the state's recession-wracked economy, recent polls have found – and with very good reason.
As the state's once-booming housing industry went bust, the recession hit here somewhat earlier and harder than in the rest of the country. The national economy shows some signs of recovery, but they're difficult to find in California.
The best one may conclude from forecasts by the state's leading economists is that we may have hit bottom and may see some weak signs of recovery later in the year, but full recovery – if it happens – will take years.
How many years? In the absence of some new explosive boom, even a strong recovery would create, at most, perhaps 300,000 new jobs a year.
That sounds great, but California is still seeing strong population growth, so its potential labor force is still growing. Most of those 300,000 jobs would be needed just to meet that growth.
California has lost 1.4 million jobs in the past two years, including 20,400 more in February. Unemployment is 12.5 percent. Cutting it in half could take a decade – assuming that strong, sustained economic growth will visit the state.
Bill Watkins, who runs an economic forecast unit at California Lutheran University, says in a new overview, "The short version of our forecast is that economic activity will slowly pick up in California, while job losses will continue, but at declining rates."
"The picture one gets is of a generally weak, jobless, recovery that will be geographically and sectorally uneven," Watkins adds. "Unfortunately for most Californians, 2010 is likely to be another challenging economic year."
(Excerpt) Read more at sacbee.com ...
Dear California,
Just sell the state to Google.
Sincerely,
Disgruntled Taxpayer
California is what you get when Liberals take over......and if they stay in charge long enough, you get Detroit.
...wow...this is from the Sacremento Bee the flagship paper of the McClatchey newspaper group...they are heavily Leftist and strongly pro-Obama...surprised they would print a story like this....check out their stock price sometimes(MNI)to see the fruits of their best thinking.
The parasitic govt has overwhelmed the host.
Wadda' madder Sacramento, your little Marxist Utopia on the rocks and proved to be dysfunctional?
But with better weather, hotter chicks.
Kalifornia's Future.
Certainly the courageous, bright and wise representative legislators in Sacto will do what is crucial and necessary for a sound fiscal solution. /sc
Sadly for the staff, the Obama Internet/media troll division seems to be fully staffed so its off work as a bar back or at a lefty coffee shop.
If it is any consolation to those in CA...Florida is catching up....over 12% unemployment now in FL
Its bad everywhere
Kalifornia is what you get when a majority of the electorate votes for their “free stuff.” The rest of this nation is following just a couple years /months behind.
OREGON’s on it’s way to CALIFORNICATION too....
...this winter, one of the papers in the chain(Miami Herald, actually asked readers for charitable donations to stay afloat.
thankfully they invested poorly and maybe gone within a year.
they are now in the penny stock trade category.
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