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Study: Job Cuts To Hinder Calif. Economic Recovery

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Jun 16, 2009 8:39 am US/Pacific

Study: Job Cuts To Hinder Calif. Economic Recovery

LOS ANGELES (AP) ― A report said massive cuts in the state work force could boost California's unemployment rate to more than 12 percent and restrain economic growth even after housing markets stabilize.

UCLA's quarterly Anderson Forecast predicts that 60,000 government positions will be eliminated as lawmakers try to reduce the state's $24.3 billion deficit, making tepid growth likely until early 2011.

Anderson Forecast senior economist Jerry Nickelsburg said an economic recovery "will be held back by a rising tide of former state employees conserving their spending while they seek work in the private sector."

The forecast said the state's unemployment rate will reach a high of 12.1 percent in the fourth quarter of 2010. And unemployment will not dip back into the single digits until late 2011.

(© 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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