UCLA Anderson forecast predicts grim future
LOS ANGELES -- California's future economic picture is pretty grim. That's according to the quarterly UCLA Anderson Forecast released Wednesday morning.
It says the state lawmakers' failure to enact spending cuts hammered out during budget negotiations will slow down the state's economic recovery.
They say growth will be delayed due to deferred job cuts that will be enacted to close a still gaping deficit.
The report says California's unemployment rate won't drop into single digits until 2012. The study puts state unemployment at 12.7 percent this quarter.
The UCLA forecast expects the state's economic growth to pick up in the beginning of 2011.
The Associated Press contributed to this story.
budget, economy, ucla, unemployment, california news
- Glendora yard dug up in 35-year-old cold case
- OC sheriff's reserve sergeant found beaten
- UK attack driven by radical Islam - officials
- Model murder trial: Case in hands of jury
- Bill proposed to reduce night airport noise
- Los Angeles mayoral race: Eric Garcetti wins
- Injured volunteer wants thousands from hiker
- Okla. tornado tore through 13,000 buildings
- abcnews: US IDs 4 Americans killed by drones
- Arias jury stuck but must keep deliberating
- Curious about caviar? Class available in WeHo
- Virgin tops, Spirit flops in airline survey
- OTRC: Critics' Choice Television Awards nominees
- Tornado relief drives: More than $211K raised