UCLA forecast: CA unemployment to continue dropping
LOS ANGELES (KABC) -- A UCLA economic forecast released on Wednesday had encouraging news about California's unemployment, which is dropping faster than the national unemployment.
California saw a surprising increase in jobs in September and October, state unemployment dropped from 12.1 to 11.7 percent, raising hope that the state is crawling out of its economic doldrums.
But the slow economy across the rest of the country may keep California's recovery from picking up steam.
In the Los Angeles-Long Beach area, unemployment is 11.1, while in the Riverside-San Bernardino area, unemployment is 13.3 percent.
"The employment numbers continue to be encouraging, but the trade numbers do not reflect a robust recovery," UCLA Anderson School of Management senior economist Jerry Nickelsburg wrote in his quarterly forecast.
The report predicted that the state's economy will show slow growth through 2012, and that the unemployment rate will gradually drop over the next several quarters.
City News Service contributed to this report.
economy, wall street, business
- Woman attacked at OC mall parking structure
- Echo Park apartment fire deemed suspicious
- Woman in newlywed murder agrees to plea deal
- Sriracha distribution on hold for 30 days
- Bell's Rizzo to plead guilty to tax evasion
- Arleta deadly road rage suspect identified
- Car slams into Ventura house; driver arrested
- NKorea executes leader's uncle as a traitor
- abcnews: Arrowhead Stadium victim's family talks
- Australia rejects law allowing gay marriage
- House easily approves bipartisan budget bill
- Klinsmann to remain as US coach through 2018
- Bale talks 'Hustle,' 'Out of the Furnace'
- OTRC: Lea Michele talks about Cory Monteith (Video)