IE Business Daily Business news for the Inland Empire.
California will experience modest job growth during the next three years, a study released Wednesday stated.
In all sectors, employment in the state should grow 1.8 percent this year, 2.2 percent next year and 2.1 percent in 2016, according to a forecast by the UCLA Anderson School of Management.
State unemployment could be as low as 5.7 percent by the fourth quarter of 2016, according to the forecast, which was posted on the school’s website.
Personal income is expected to grow 3.1 percent this year, 3.8 percent next year and 3.7 percent in 2016. The report also notes that the drought, while hurting some agricultural sectors, on the overall has done little damage to the state’s economy and will have minimal impact on job growth.
Nationally, the economy is expected to create between 200,000 to 250,000 jobs a month, with unemployment likely to the down to 5.4 percent by the end of 2016. Inflation is also expected to rise slightly during that time, but wages are expected to keep pace with that growth, according to the forecast.
