Topics

Unemployment and Layoffs
California bouncing back after a slow start to 2014, report says
California bouncing back after a slow start to 2014, report says

The economic recovery in California struggled through the first half of the year but now is picking up speed, driven by improvements in the real estate and the job markets, according to a quarterly report from Beacon Economics and City National Bank. The state’s economic output swelled at an estimated 4% annual rate in the second quarter, a sharp turnaround from the first quarter’s dismal minus-2.5% rate. Researchers pegged California’s total gross state product -- the value of all goods and services produced in the state -- at $2.1 trillion, or 13.1% of the overall U.S. economy. That would make it the 10th-largest economy worldwide. The real estate industry was a...

Loading