By: Chris Kirkham
Good news for California businesses—according to the Los Angeles County Economic Development Corporation’s (LAEDC) annual forecast, there will be continued job growth and economic output in the state through 2020. This is expected to outpace the rest of the nation.
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Writing for the Los Angeles Times, reporter Chris Kirkham notes, “The forecast from the LAEDC expects job growth of 2.9% this year and 2.4% next year, compared with 2.1% and 1.8% for the nation overall. A similar report released this week by the UCLA Anderson Forecast pegged job growth in California at 2.2% next year and 1.4% in 2017.
“The UCLA report also predicted that California’s unemployment rate will continue to dip to 4.8% in 2017, the same rate as the U.S. overall. California’s unemployment rate is currently at 6.1%, higher than the U.S. rate of 5.1%.” Read more.