Slow Growth Expected for Southern California

Southern California’s economy will slow further next year, but the region will continue to fare better than the nation as a whole, local business forecasters said.

But the forecasters, speaking at an economic conference held by the Southern California Assn. of Governments, said that Los Angeles County will suffer more than the rest of Southern California and that its growth will be negligible in early 2002.

They said Southern California’s diversified economy will provide stability, but that the area will be slowed by the national downturn and the aftermath of Sept. 11.

Anil K. Puri, dean of the College of Business and Economics at Cal State Fullerton, said the slow growth combined with continuing population increases will mean that unemployment rates continue to rise in 2002. He forecast that Los Angeles County’s jobless rate will average 6.3% next year, up from 5.7% this year.